David F. Farnsworth Acquires 1,100 Shares of CVB Financial Corp. (NASDAQ:CVBF) Stock

CVB Financial Corp. (NASDAQ:CVBF) EVP David F. Farnsworth purchased 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $16.41 per share, with a total value of $18,051.00. Following the completion of the transaction, the executive vice president now directly owns 57,474 shares of the company’s stock, valued at approximately $943,148.34. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

CVB Financial Stock Performance

Shares of CVBF opened at $16.75 on Thursday. The firm has a market cap of $2.34 billion, a P/E ratio of 11.02 and a beta of 0.46. CVB Financial Corp. has a fifty-two week low of $10.66 and a fifty-two week high of $21.77. The business has a 50-day moving average of $16.93 and a 200 day moving average of $17.71.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. As a group, research analysts predict that CVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.78%. CVB Financial’s dividend payout ratio is currently 52.63%.

Hedge Funds Weigh In On CVB Financial

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in CVB Financial by 104.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock worth $78,694,000 after purchasing an additional 1,994,369 shares in the last quarter. Norges Bank purchased a new stake in shares of CVB Financial in the fourth quarter worth about $29,134,000. American Century Companies Inc. grew its stake in CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock valued at $65,244,000 after acquiring an additional 1,204,090 shares in the last quarter. Principal Financial Group Inc. increased its holdings in CVB Financial by 56.4% during the 4th quarter. Principal Financial Group Inc. now owns 2,914,706 shares of the financial services provider’s stock worth $58,848,000 after acquiring an additional 1,050,625 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in CVB Financial by 16.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after purchasing an additional 594,901 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVBF has been the subject of a number of recent analyst reports. StockNews.com upgraded CVB Financial to a “sell” rating in a research note on Friday, January 5th. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Wedbush restated a “neutral” rating and set a $19.00 price objective on shares of CVB Financial in a report on Thursday, April 25th. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CVB Financial has an average rating of “Hold” and a consensus target price of $19.00.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.