CVB Financial price target lowered to $23 from $25 at Piper Sandler

Piper Sandler lowered the firm’s price target on CVB Financial (CVBF) to $23 from $25 and keeps an Overweight rating on the shares following quarterly earnings. The firm told investors that the lowered price target still reflects 18x its 2025 estimated EPS and is consistent with a “high-quality” premium to peers for its “more conservative” credit, “above average” pre-provision net revenue return on assets, “industry leading” core deposit profile, and “demonstrated ability” to use the “strength” of its currency to structure accretive bank M&A.