CVB Financial (NASDAQ:CVBF) Sets New 1-Year High – Should You Buy?

Shares of CVB Financial Corporation (NASDAQ:CVBF) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $21.74 and last traded at $21.8060, with a volume of 96970 shares changing hands. The stock had previously closed at $21.55.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVBF. Piper Sandler lifted their price objective on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Stephens reaffirmed an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Finally, Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 10th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, CVB Financial presently has an average rating of “Moderate Buy” and an average price target of $24.12.

CVB Financial Price Performance

The company has a fifty day moving average of $20.44 and a 200-day moving average of $19.95. The firm has a market cap of $3.85 billion, a P/E ratio of 14.38 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $132.12 million during the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.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 1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director George A. Borba, Jr. acquired 50,242 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the purchase, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. This trade represents a 6.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of CVB Financial by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock valued at $147,620,000 after purchasing an additional 331,307 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CVB Financial by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock worth $102,092,000 after purchasing an additional 67,563 shares in the last quarter. HoldCo Asset Management LP lifted its holdings in CVB Financial by 17,051.0% during the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after purchasing an additional 2,211,005 shares in the last quarter. Victory Capital Management Inc. boosted its stake in CVB Financial by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock worth $37,784,000 after purchasing an additional 74,914 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in CVB Financial by 2.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock worth $32,359,000 after purchasing an additional 39,771 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.