CVB Financial (NASDAQ:CVBF) Director Purchases $499,961.95 in Stock

CVB Financial Corporation (NASDAQ:CVBF) Director George Borba, Jr. acquired 25,187 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $19.85 per share, with a total value of $499,961.95. Following the acquisition, the director directly owned 846,308 shares of the company’s stock, valued at $16,799,213.80. This represents a 3.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

CVB Financial Stock Up 0.1%

CVBF opened at $20.32 on Friday. CVB Financial Corporation has a fifty-two week low of $17.94 and a fifty-two week high of $21.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73. The company has a fifty day moving average of $19.83 and a two-hundred day moving average of $19.70. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 13.37 and a beta of 0.67.

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

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, April 1st. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CVBF shares. Weiss Ratings raised shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Piper Sandler boosted their target price on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.50.

Institutional Trading of CVB Financial

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in CVB Financial by 28.1% during the 1st quarter. Bank of America Corp DE now owns 925,555 shares of the financial services provider’s stock valued at $17,947,000 after acquiring an additional 202,857 shares in the last quarter. Amundi purchased a new stake in CVB Financial during the 1st quarter valued at about $536,000. EverSource Wealth Advisors LLC grew its stake in CVB Financial by 40.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 695 shares in the last quarter. California State Teachers Retirement System boosted its holdings in CVB Financial by 32.8% in the 1st quarter. California State Teachers Retirement System now owns 162,816 shares of the financial services provider’s stock valued at $3,157,000 after purchasing an additional 40,212 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in CVB Financial by 8.5% in the 1st quarter. Royal Bank of Canada now owns 21,755 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 1,704 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

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.