CVB Financial (NASDAQ:CVBF) Director Acquires $499,961.95 in Stock

CVB Financial Corporation (NASDAQ:CVBF) Director George Borba, Jr. bought 25,187 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $19.85 per share, with a total value of $499,961.95. Following the completion of the purchase, the director directly owned 846,308 shares of the company’s stock, valued at $16,799,213.80. This represents a 3.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CVB Financial Stock Performance

NASDAQ CVBF traded down $0.06 on Tuesday, hitting $19.82. 1,292,765 shares of the stock were exchanged, compared to its average volume of 1,818,392. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. The business’s fifty day moving average is $19.78 and its 200 day moving average is $19.67. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $21.48. The company has a market capitalization of $3.50 billion, a PE ratio of 13.04 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The company had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. During the same quarter last year, the firm posted $0.36 EPS. Research analysts anticipate that CVB Financial Corporation will post 1.56 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, April 1st. CVB Financial’s payout ratio is 52.63%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler raised their price objective on CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings raised CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On CVB Financial

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of CVB Financial by 28.7% in the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 8,432 shares during the last quarter. AQR Capital Management LLC grew its holdings in CVB Financial by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after buying an additional 12,992 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CVB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock worth $1,456,000 after buying an additional 3,442 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of CVB Financial by 848.1% during the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock worth $300,000 after buying an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CVB Financial by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock worth $8,458,000 after buying an additional 38,250 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

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.