CVB Financial (NASDAQ:CVBF) Director Purchases 10,000 Shares of Stock

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

CVB Financial Trading Down 0.1%

Shares of NASDAQ CVBF traded down $0.02 during mid-day trading on Monday, hitting $22.17. The stock had a trading volume of 1,052,841 shares, compared to its average volume of 1,559,673. The business has a 50 day moving average price of $22.58 and a two-hundred day moving average price of $20.93. CVB Financial Corporation has a 1 year low of $17.94 and a 1 year high of $23.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. The firm 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 announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The firm had revenue of $179.43 million for the quarter, compared to analysts’ expectations of $184.62 million. During the same period in the previous year, the company earned $0.36 EPS. On average, equities analysts anticipate that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.

CVB Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVBF shares. Piper Sandler upped their price target on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research report on Thursday, August 6th. Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Wednesday, July 1st. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Institutional Trading of CVB Financial

Several large investors have recently bought and sold shares of CVBF. Corient Private Wealth LP raised its position in shares of CVB Financial by 89.7% in the 2nd quarter. Corient Private Wealth LP now owns 38,139 shares of the financial services provider’s stock worth $860,000 after acquiring an additional 18,035 shares in the last quarter. Amundi boosted its position in shares of CVB Financial by 12.5% during the second quarter. Amundi now owns 31,073 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 3,441 shares in the last quarter. HighTower Advisors LLC purchased a new stake in CVB Financial in the second quarter worth $218,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in CVB Financial in the second quarter worth $248,000. Finally, California State Teachers Retirement System grew its stake in CVB Financial by 2,558.5% in the second quarter. California State Teachers Retirement System now owns 4,328,382 shares of the financial services provider’s stock worth $97,605,000 after purchasing an additional 4,165,566 shares during the period. 74.18% of the stock is owned by institutional investors.

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.