CVB Financial Corp. (CVBF) Director Robert Jacoby Sells 25,000 Shares
CVB Financial Corp. (NASDAQ:CVBF) Director Robert Jacoby sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $21.01, for a total value of $525,250.00. Following the completion of the transaction, the director now directly owns 35,012 shares of the company’s stock, valued at $735,602.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
CVB Financial Corp. (NASDAQ:CVBF) traded up 2.36% during trading on Friday, reaching $21.23. The company had a trading volume of 242,106 shares. The firm’s 50 day moving average price is $17.77 and its 200 day moving average price is $17.13. The firm has a market capitalization of $2.30 billion, a PE ratio of 22.11 and a beta of 1.37. CVB Financial Corp. has a 12-month low of $14.02 and a 12-month high of $21.30.
CVB Financial Corp. (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.01. CVB Financial Corp. had a return on equity of 10.59% and a net margin of 34.39%. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities research analysts forecast that CVB Financial Corp. will post $0.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, October 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.31%. CVB Financial Corp.’s payout ratio is 50.53%.
Several institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC raised its position in CVB Financial Corp. by 0.9% in the second quarter. Profund Advisors LLC now owns 19,473 shares of the financial services provider’s stock valued at $319,000 after buying an additional 169 shares during the last quarter. Gamble Jones Investment Counsel raised its position in CVB Financial Corp. by 0.7% in the second quarter. Gamble Jones Investment Counsel now owns 52,343 shares of the financial services provider’s stock valued at $858,000 after buying an additional 350 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in CVB Financial Corp. by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 22,260 shares of the financial services provider’s stock valued at $392,000 after buying an additional 380 shares during the last quarter. Commonwealth Equity Services Inc raised its position in CVB Financial Corp. by 0.4% in the second quarter. Commonwealth Equity Services Inc now owns 131,530 shares of the financial services provider’s stock valued at $2,156,000 after buying an additional 514 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in CVB Financial Corp. by 8.7% in the third quarter. Victory Capital Management Inc. now owns 6,751 shares of the financial services provider’s stock valued at $119,000 after buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.
CVBF has been the subject of several recent analyst reports. Zacks Investment Research raised CVB Financial Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, October 4th. DA Davidson reaffirmed a “hold” rating and issued a $18.00 target price on shares of CVB Financial Corp. in a report on Monday, September 26th. Finally, Keefe, Bruyette & Woods upped their target price on CVB Financial Corp. from $17.00 to $18.00 and gave the company a “market perform” rating in a report on Tuesday, September 27th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.00.
CVB Financial Corp. Company Profile
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
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