CVB Financial (NASDAQ:CVBF) Director George Borba, Jr. Purchases 27,094 Shares

CVB Financial Corporation (NASDAQ:CVBF) Director George Borba, Jr. acquired 27,094 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $18.45 per share, with a total value of $499,884.30. Following the acquisition, the director owned 745,782 shares of the company’s stock, valued at approximately $13,759,677.90. This represents a 3.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CVB Financial Price Performance

Shares of CVBF traded up $0.22 on Friday, hitting $18.86. The company’s stock had a trading volume of 1,294,536 shares, compared to its average volume of 772,348. The company has a market capitalization of $2.58 billion, a PE ratio of 12.92 and a beta of 0.69. CVB Financial Corporation has a fifty-two week low of $16.01 and a fifty-two week high of $24.58. The company has a 50 day moving average price of $19.11 and a 200 day moving average price of $19.37.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $128.58 million during the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. On average, equities analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. CVB Financial’s dividend payout ratio is currently 54.79%.

Hedge Funds Weigh In On CVB Financial

Several large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas acquired a new stake in CVB Financial during the 1st quarter worth $377,000. Massachusetts Financial Services Co. MA grew its stake in shares of CVB Financial by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,636,814 shares of the financial services provider’s stock worth $30,216,000 after purchasing an additional 185,890 shares during the period. Victory Capital Management Inc. increased its holdings in CVB Financial by 21.4% in the first quarter. Victory Capital Management Inc. now owns 1,806,879 shares of the financial services provider’s stock valued at $33,355,000 after purchasing an additional 318,882 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CVB Financial in the first quarter valued at about $205,000. Finally, Inspire Advisors LLC lifted its stake in CVB Financial by 28.3% in the first quarter. Inspire Advisors LLC now owns 128,950 shares of the financial services provider’s stock valued at $2,380,000 after buying an additional 28,405 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVBF. Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their price objective on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Finally, Piper Sandler upped their price objective on CVB Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, CVB Financial currently has an average rating of “Moderate Buy” and an average target price of $24.33.

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.