CVB Financial (NASDAQ:CVBF) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Shares of CVB Financial Corporation (NASDAQ:CVBF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.45 and traded as high as $19.81. CVB Financial shares last traded at $19.71, with a volume of 2,597,301 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on CVBF. Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a research note on Monday, December 29th. DA Davidson upped their price target on CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a report on Friday, December 19th. Finally, Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Two research analysts have rated the stock with a Buy rating and two have 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 target price of $24.17.

CVB Financial Stock Performance

The business’s 50 day simple moving average is $19.64 and its 200-day simple moving average is $19.44. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 13.14 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $133.85 million during the quarter, compared to analysts’ expectations of $135.45 million. CVB Financial had a return on equity of 9.30% and a net margin of 32.28%.During the same quarter in the previous year, the business posted $0.36 EPS. Research analysts expect that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 29th. This represents a $0.80 annualized dividend and a yield of 4.1%. CVB Financial’s dividend payout ratio is presently 53.33%.

Insider Buying and Selling at CVB Financial

In related news, Director George A. Borba, Jr. purchased 27,094 shares of CVB Financial stock in a transaction on Friday, November 14th. The stock was purchased at an average cost of $18.45 per share, with a total value of $499,884.30. Following the acquisition, the director directly owned 745,782 shares in the company, valued at approximately $13,759,677.90. This trade represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors have recently added to or reduced their stakes in CVBF. Salomon & Ludwin LLC bought a new stake in CVB Financial during the 3rd quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its stake in CVB Financial by 394.6% in the third quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 2,790 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in CVB Financial by 26.8% in the third quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 854 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of CVB Financial during the second quarter worth $103,000. Finally, GAMMA Investing LLC increased its stake in shares of CVB Financial by 10.7% in the third quarter. GAMMA Investing LLC now owns 6,384 shares of the financial services provider’s stock valued at $121,000 after buying an additional 619 shares in the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

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.