CVB Financial (NASDAQ:CVBF) Director Brien Raymond III Acquires 20,000 Shares

CVB Financial Corporation (NASDAQ:CVBF) Director Brien Raymond III acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were bought at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the acquisition, the director owned 85,780 shares in the company, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

CVB Financial Stock Up 1.3%

NASDAQ CVBF opened at $22.80 on Wednesday. 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 50-day simple moving average of $21.60 and a 200 day simple moving average of $20.49. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.36. The stock has a market cap of $4.02 billion, a PE ratio of 15.72 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. During the same period last year, the business earned $0.36 earnings per share. On average, research analysts forecast that CVB Financial Corporation will post 1.66 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were issued a dividend of $0.20 per share. 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 (DPR) is presently 55.17%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of CVB Financial by 28.7% during the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 8,432 shares during the period. AQR Capital Management LLC grew its holdings in shares of CVB Financial by 36.6% in 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. increased its position in shares of 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 worth $1,456,000 after purchasing an additional 3,442 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of 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 worth $300,000 after purchasing an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 purchasing an additional 38,250 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Piper Sandler lifted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. Raymond James Financial upgraded shares of 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 boosted their price target on shares of CVB Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, DA Davidson increased their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.