CVB Financial (NASDAQ:CVBF) Reaches New 52-Week High – Should You Buy?

CVB Financial Corporation (NASDAQ:CVBF) shares reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $23.80 and last traded at $23.3310, with a volume of 73,415 shares trading hands. The stock had previously closed at $22.93.

Analyst Ratings Changes

Several research analysts recently commented on CVBF shares. DA Davidson raised their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 26th. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a report on Thursday, August 6th. Wall Street Zen upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Piper Sandler increased their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.25.

CVB Financial Price Performance

The company’s 50 day moving average price is $22.28 and its 200 day moving average price is $21.18. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.75. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 15.57 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $191.74 million for the quarter, compared to analyst estimates of $192.80 million. CVB Financial had a return on equity of 9.42% and a net margin of 29.54%. During the same quarter last year, the business earned $0.38 EPS. On average, equities research analysts predict that CVB Financial Corporation will post 1.77 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.20 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. CVB Financial’s payout ratio is 52.98%.

Insiders Place Their Bets

In other news, Director Mike Maddox acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was bought at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the acquisition, the director owned 13,138 shares in the company, valued at approximately $289,430.14. This represents a 318.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Heritage Family Offices LLP acquired a new stake in CVB Financial during the 3rd quarter valued at $40,000. Nykredit A S bought a new position in CVB Financial in the 2nd quarter valued at $43,000. Public Employees Retirement System of Ohio bought a new position in CVB Financial in the 2nd quarter valued at $53,000. EverSource Wealth Advisors LLC raised its position in CVB Financial by 40.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 695 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in CVB Financial in the second quarter worth $77,000. 74.18% of the stock is owned by institutional investors and hedge funds.

About CVB Financial

CVB Financial Corp. is a bank holding company headquartered in Ontario, California. Its principal subsidiary, Citizens Business Bank, provides banking and financial services to businesses, professionals, and individuals, with a focus on relationship-based commercial banking.

Citizens Business Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, equipment financing, treasury management, cash management, and international banking services.