CVB Financial (NASDAQ:CVBF) Director George Borba, Jr. Purchases 50,242 Shares of Stock

CVB Financial Corporation (NASDAQ:CVBF) Director George Borba, Jr. acquired 50,242 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $19.90 per share, with a total value of $999,815.80. Following the completion of the acquisition, the director owned 796,024 shares of the company’s stock, valued at $15,840,877.60. This represents a 6.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CVB Financial Stock Down 1.3%

NASDAQ:CVBF opened at $19.84 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.72 and a current ratio of 0.73. The company has a market cap of $2.69 billion, a PE ratio of 13.05 and a beta of 0.67. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $21.48. The stock has a 50-day simple moving average of $19.74 and a 200 day simple moving average of $19.64.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38. The business had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same period last year, the company earned $0.36 earnings per share. On average, sell-side analysts expect that CVB Financial Corporation will post 1.56 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.0%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC increased its stake in shares of CVB Financial by 2.1% in the 4th quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 521 shares during the last quarter. Bolthouse Investments LLC increased its stake in shares of CVB Financial by 1.0% in the 3rd quarter. Bolthouse Investments LLC now owns 58,746 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 561 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of CVB Financial by 0.8% in the 4th quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider’s stock valued at $1,330,000 after purchasing an additional 561 shares during the last quarter. Savant Capital LLC increased its stake in shares of CVB Financial by 5.6% in the 3rd quarter. Savant Capital LLC now owns 10,689 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 564 shares during the last quarter. Finally, CWM LLC increased its stake in shares of CVB Financial by 6.3% in the 4th quarter. CWM LLC now owns 10,445 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 620 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVBF has been the subject of a number of analyst reports. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Piper Sandler raised their price target on CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.