Insider Buying: CVB Financial Corporation (CVBF) Director Acquires 4,660 Shares of Stock
CVB Financial Corporation (NASDAQ:CVBF) Director Anna Kan acquired 4,660 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $21.50 per share, for a total transaction of $100,190.00. Following the purchase, the director now owns 17,660 shares in the company, valued at approximately $379,690. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
CVB Financial Corporation (NASDAQ:CVBF) traded up 0.20% during mid-day trading on Friday, hitting $20.45. 210,178 shares of the company traded hands. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 20.33 and a beta of 1.51. CVB Financial Corporation has a one year low of $16.32 and a one year high of $24.63. The company’s 50-day moving average is $21.74 and its 200-day moving average is $21.93.
CVB Financial Corporation (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. The firm had revenue of $81.26 million during the quarter, compared to analysts’ expectations of $80.10 million. During the same period in the previous year, the business posted $0.23 earnings per share. Analysts predict that CVB Financial Corporation will post $1.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, July 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.74%. This is a boost from CVB Financial Corporation’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, July 3rd. CVB Financial Corporation’s payout ratio is 56.00%.
Several research firms have weighed in on CVBF. BidaskClub lowered shares of CVB Financial Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research raised shares of CVB Financial Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $23.00 target price on shares of CVB Financial Corporation in a research report on Friday, August 4th. Wedbush reissued a “neutral” rating and issued a $22.00 target price on shares of CVB Financial Corporation in a research report on Tuesday, June 27th. Finally, Hovde Group raised shares of CVB Financial Corporation from an “underperform” rating to a “market perform” rating and set a $21.00 target price for the company in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. CVB Financial Corporation presently has an average rating of “Hold” and an average target price of $21.50.
Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in CVB Financial Corporation during the fourth quarter worth approximately $251,000. Guggenheim Capital LLC boosted its stake in shares of CVB Financial Corporation by 60.7% in the fourth quarter. Guggenheim Capital LLC now owns 26,447 shares of the financial services provider’s stock worth $606,000 after buying an additional 9,993 shares during the last quarter. Norges Bank acquired a new stake in shares of CVB Financial Corporation during the fourth quarter worth about $15,996,000. Teachers Advisors LLC boosted its stake in shares of CVB Financial Corporation by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 183,513 shares of the financial services provider’s stock worth $4,208,000 after buying an additional 4,097 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of CVB Financial Corporation by 8.6% in the first quarter. Bank of Montreal Can now owns 8,161 shares of the financial services provider’s stock worth $180,000 after buying an additional 649 shares during the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.
About CVB Financial Corporation
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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