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

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

CVB Financial Stock Performance

NASDAQ CVBF opened at $19.60 on Thursday. The business’s 50-day moving average price is $19.74 and its 200 day moving average price is $19.65. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $21.48. The company has a market capitalization of $2.66 billion, a PE ratio of 12.89 and a beta of 0.67. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of 0.22.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.The firm had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. During the same period in the prior year, the business posted $0.36 earnings per share. On average, research analysts predict that CVB Financial Corporation will post 1.56 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.80 annualized dividend and a yield of 4.1%. CVB Financial’s dividend payout ratio is 52.63%.

Institutional Trading of CVB Financial

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of CVB Financial by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock worth $147,620,000 after purchasing an additional 331,307 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CVB Financial by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock worth $102,092,000 after purchasing an additional 67,563 shares during the period. HoldCo Asset Management LP grew its holdings in shares of CVB Financial by 17,051.0% during the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after purchasing an additional 2,211,005 shares during the period. Victory Capital Management Inc. grew its holdings in shares of CVB Financial by 3.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock worth $37,784,000 after purchasing an additional 74,914 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of CVB Financial by 2.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock valued at $32,359,000 after buying an additional 39,771 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.