CVB Financial (NASDAQ:CVBF) Sees Strong Trading Volume – Should You Buy?

CVB Financial Corporation (NASDAQ:CVBF) saw strong trading volume on Thursday . 862,547 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 784,125 shares.The stock last traded at $19.4710 and had previously closed at $20.25.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. DA Davidson increased their price objective on shares of CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research note on Friday. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.88.

CVB Financial Trading Down 0.6%

The business’s fifty day moving average is $19.18 and its 200 day moving average is $19.46. The company has a market cap of $2.67 billion, a P/E ratio of 13.38 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%.The business had revenue of $128.58 million during the quarter, compared to the consensus estimate of $131.10 million. As a group, research analysts expect that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 13th. Stockholders of record on Monday, December 29th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $0.80 annualized dividend and a dividend yield of 4.1%. CVB Financial’s payout ratio is 54.79%.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. bought 27,094 shares of the company’s stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $18.45 per share, for a total transaction of $499,884.30. Following the completion of the transaction, the director directly owned 745,782 shares in the company, valued at approximately $13,759,677.90. The trade was a 3.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by insiders.

Institutional Trading of CVB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC grew its holdings in CVB Financial by 22.1% during the 1st quarter. LPL Financial LLC now owns 74,717 shares of the financial services provider’s stock valued at $1,379,000 after buying an additional 13,500 shares in the last quarter. Nuveen LLC bought a new position in shares of CVB Financial in the first quarter valued at approximately $6,932,000. Russell Investments Group Ltd. grew its stake in CVB Financial by 14.9% during the first quarter. Russell Investments Group Ltd. now owns 14,706 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 1,909 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CVB Financial by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider’s stock worth $124,752,000 after acquiring an additional 400,670 shares during the period. Finally, Brooklyn Investment Group lifted its stake in CVB Financial by 240,700.0% in the 1st quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 2,407 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

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.