CVB Financial (NASDAQ:CVBF) Director Mike Maddox Acquires 10,000 Shares of Stock

CVB Financial Corporation (NASDAQ:CVBF) Director Mike Maddox purchased 10,000 shares of the stock in a transaction on Monday, August 31st. The shares were bought at an average price of $22.03 per share, for a total transaction of $220,300.00. Following the acquisition, the director owned 13,138 shares of the company’s stock, valued at approximately $289,430.14. The trade was a 318.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CVB Financial Price Performance

NASDAQ CVBF opened at $22.17 on Tuesday. CVB Financial Corporation has a 1 year low of $17.94 and a 1 year high of $23.41. The company has a fifty day simple moving average of $22.61 and a 200 day simple moving average of $20.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.90 billion, a P/E ratio of 15.29 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period in the prior year, the firm earned $0.36 EPS. On average, sell-side analysts predict that CVB Financial Corporation will post 1.72 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial’s payout ratio is currently 55.17%.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its position in 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 worth $698,000 after purchasing 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 worth $895,000 after purchasing an additional 12,992 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $1,456,000 after purchasing an additional 3,442 shares during the period. Jones Financial Companies Lllp lifted its position 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 purchasing an additional 13,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of CVB Financial by 9.1% in 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 purchasing an additional 38,250 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

CVBF has been the subject of a number of research reports. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Piper Sandler boosted their price objective on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. DA Davidson raised their target price 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, Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, CVB Financial currently has a consensus rating of “Moderate Buy” and an average target price of $26.25.

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.