CVB Financial (NASDAQ:CVBF) COO Sells $917,600.00 in Stock

CVB Financial Corporation (NASDAQ:CVBF) COO David Harvey sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the completion of the transaction, the chief operating officer directly owned 98,149 shares in the company, valued at $2,251,538.06. This represents a 28.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CVB Financial Trading Down 0.9%

CVB Financial stock traded down $0.21 during trading hours on Wednesday, hitting $22.89. The company had a trading volume of 1,165,601 shares, compared to its average volume of 1,633,026. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.77. The firm has a market cap of $4.04 billion, a P/E ratio of 15.79 and a beta of 0.65. The company has a 50-day moving average price of $21.84 and a two-hundred day moving average price of $20.61. CVB Financial Corporation has a 1 year low of $17.94 and a 1 year high of $23.36.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share 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 the consensus estimate 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 prior year, the firm posted $0.36 EPS. On average, sell-side analysts anticipate that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial’s dividend payout ratio is presently 55.17%.

Analysts Set New Price Targets

CVBF has been the topic of several research reports. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Stephens increased their target price on CVB Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Wednesday, July 1st. DA Davidson boosted their price target on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Piper Sandler upped their price objective on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CVB Financial currently has an average rating of “Moderate Buy” and an average target price of $25.75.

Institutional Trading of CVB Financial

Several hedge funds and other institutional investors have recently made changes to their positions in CVBF. Royal Bank of Canada raised its position in shares of CVB Financial by 28.7% in the 1st 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 lifted its stake in shares of CVB Financial by 36.6% during the first quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock worth $895,000 after buying an additional 12,992 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CVB Financial by 4.6% during the first 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 increased its position in shares of CVB Financial by 848.1% in the 1st quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 13,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 worth $8,458,000 after acquiring an additional 38,250 shares during the period. Hedge funds and other 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 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.