CVB Financial (NASDAQ:CVBF) Director Buys $999,815.80 in Stock

CVB Financial Corporation (NASDAQ:CVBF) Director George Borba, Jr. acquired 50,242 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the transaction, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. This represents a 6.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

CVB Financial Stock Performance

Shares of CVBF stock traded down $0.26 during trading hours on Tuesday, reaching $19.84. 1,750,040 shares of the company traded hands, compared to its average volume of 1,631,989. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $21.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $2.69 billion, a P/E ratio of 13.05 and a beta of 0.67. The firm has a 50-day moving average price of $19.73 and a 200 day moving average price of $19.64.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. CVB Financial had a return on equity of 9.14% and a net margin of 32.05%.The company had revenue of $132.12 million for the quarter, compared to analysts’ expectations of $162.29 million. During the same period in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts predict that CVB Financial Corporation will post 1.56 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

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

Institutional Trading of CVB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CVBF. Royal Bank of Canada raised its holdings in CVB Financial by 28.7% during the 1st quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock valued at $698,000 after buying an additional 8,432 shares during the period. AQR Capital Management LLC raised its holdings in CVB Financial by 36.6% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $1,456,000 after buying an additional 3,442 shares during the period. Jones Financial Companies Lllp raised its holdings in CVB Financial by 848.1% during the 1st quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after buying an additional 13,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CVB Financial by 9.1% during the 1st 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 valued at $8,458,000 after buying an additional 38,250 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analysts Set New Price Targets

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

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.