Insider Buying: CVB Financial (NASDAQ:CVBF) Director Buys 50,242 Shares of Stock

CVB Financial Corporation (NASDAQ:CVBF) Director George Borba, Jr. acquired 50,242 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the transaction, the director owned 796,024 shares of the company’s stock, valued at $15,840,877.60. The trade was a 6.74% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

CVB Financial Trading Down 1.3%

Shares of NASDAQ:CVBF traded down $0.26 during trading on Tuesday, reaching $19.84. 1,750,040 shares of the company traded hands, compared to its average volume of 1,631,989. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 13.05 and a beta of 0.67. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $21.48. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $19.73 and its 200-day moving average is $19.64.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. CVB Financial had a return on equity of 9.14% and a net margin of 32.05%.The business had revenue of $132.12 million during the quarter, compared to analyst estimates of $162.29 million. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, analysts forecast that CVB Financial Corporation will post 1.56 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, April 1st. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Institutional Investors Weigh In On CVB Financial

A number of large investors have recently made changes to their positions in CVBF. Aster Capital Management DIFC Ltd grew its stake 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 purchasing an additional 1,967 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of CVB Financial during the 4th quarter valued at about $42,000. Larson Financial Group LLC lifted its position in shares of CVB Financial by 288.9% during the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,791 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of CVB Financial by 394.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock valued at $66,000 after buying an additional 2,790 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of CVB Financial by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock valued at $77,000 after buying an additional 854 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler lifted their price objective on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. 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 one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

CVB Financial Company Profile

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.