Brien Raymond III Buys 20,000 Shares of CVB Financial (NASDAQ:CVBF) Stock

CVB Financial Corporation (NASDAQ:CVBF) Director Brien Raymond III acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were bought at an average cost of $22.77 per share, with a total value of $455,400.00. Following the completion of the acquisition, the director directly owned 85,780 shares of the company’s stock, valued at $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

CVB Financial Stock Up 0.1%

Shares of CVB Financial stock opened at $22.83 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.36. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 15.74 and a beta of 0.65. The company’s 50 day moving average is $21.65 and its 200 day moving average is $20.52.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $179.43 million for the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Research analysts anticipate that CVB Financial Corporation will post 1.72 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, July 9th. CVB Financial’s dividend payout ratio is 55.17%.

Hedge Funds Weigh In On CVB Financial

Several institutional investors and hedge funds have recently bought and sold shares of CVBF. Bessemer Group Inc. raised its stake in shares of CVB Financial by 34.1% in the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock worth $28,439,000 after buying an additional 372,732 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of CVB Financial during the 1st quarter valued at approximately $1,096,000. Tudor Investment Corp ET AL grew its stake in shares of CVB Financial by 139.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 101,128 shares of the financial services provider’s stock valued at $1,912,000 after acquiring an additional 58,882 shares during the period. Bernzott Capital Advisors purchased a new stake in CVB Financial in the 1st quarter worth approximately $8,054,000. Finally, UBS Group AG increased its holdings in CVB Financial by 25.2% in the 4th quarter. UBS Group AG now owns 161,339 shares of the financial services provider’s stock worth $3,001,000 after acquiring an additional 32,499 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. 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. Piper Sandler upped their price target on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday. Stephens increased their price objective on shares of CVB Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

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.