CVB Financial (NASDAQ:CVBF) Director Acquires $455,400.00 in Stock

CVB Financial Corporation (NASDAQ:CVBF) Director Brien Raymond III bought 20,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was acquired at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the acquisition, the director directly owned 85,780 shares in the company, valued at approximately $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CVB Financial Stock Performance

NASDAQ CVBF traded up $0.30 during trading on Tuesday, hitting $22.80. The company’s stock had a trading volume of 1,579,567 shares, compared to its average volume of 1,638,605. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $23.36. The firm has a market cap of $4.02 billion, a P/E ratio of 15.72 and a beta of 0.65. The firm has a 50 day moving average price of $21.54 and a 200 day moving average price of $20.47. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data 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 business had revenue of $179.43 million during 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 company posted $0.36 earnings per share. Equities research analysts forecast that CVB Financial Corporation will post 1.66 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

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

Hedge Funds Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in CVBF. Aster Capital Management DIFC Ltd boosted its position in shares of CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC bought a new position in CVB Financial during the fourth quarter worth about $42,000. EverSource Wealth Advisors LLC boosted its holdings in CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 695 shares in the last quarter. Larson Financial Group LLC boosted its holdings in CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,791 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $103,000. 74.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CVBF. DA Davidson boosted their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler lifted their target price on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday. 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 research note on Wednesday, July 1st. Stephens raised their price objective on CVB Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, CVB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

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.