CVB Financial (NASDAQ:CVBF) Shares Break Above 200 Day Moving Average – Should You Sell?

CVB Financial Corporation (NASDAQ:CVBF) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $21.50 and traded as high as $21.81. CVB Financial shares last traded at $21.65, with a volume of 738,746 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Thursday, August 6th. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of CVB Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, DA Davidson upped their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

CVB Financial Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.77. The company has a fifty day moving average price of $22.38 and a 200 day moving average price of $21.52. The stock has a market cap of $3.76 billion, a P/E ratio of 14.72 and a beta of 0.66.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $0.36 EPS. On average, equities analysts expect that CVB Financial Corporation will post 1.74 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.7%. CVB Financial’s dividend payout ratio is currently 55.17%.

Insider Activity

In related news, Director Brien Raymond V. O. III acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the transaction, the director owned 85,780 shares in the company, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mike Maddox bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the transaction, the director directly owned 13,138 shares of the company’s stock, valued at $289,430.14. This represents a 318.67% increase in their position. The SEC filing for this purchase provides additional information. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVB Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nykredit A S bought a new position in shares of CVB Financial during the second quarter worth $43,000. EverSource Wealth Advisors LLC lifted its position in shares of CVB Financial by 40.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after buying an additional 695 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in CVB Financial during the second quarter valued at approximately $53,000. Northwestern Mutual Wealth Management Co. bought a new stake in CVB Financial in the 2nd quarter worth approximately $77,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of CVB Financial by 752.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,581 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 3,161 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

CVB Financial Corp. is the bank holding company for Citizens Business Bank, a California-based financial institution serving businesses, professionals, individuals and nonprofit organizations. The company provides relationship-focused banking through a network of branches and commercial banking offices across Southern and Central California.

Citizens Business Bank offers a range of products and services, including commercial and small-business loans, commercial real estate financing, construction lending, agricultural lending, lines of credit, deposit accounts, cash-management and treasury services, online and mobile banking, and personal banking products.