CVB Financial Corporation (NASDAQ:CVBF – Get Free Report) Director George Borba, Jr. bought 25,187 shares of CVB Financial stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the acquisition, the director directly owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
CVB Financial Trading Down 0.3%
Shares of CVBF stock opened at $19.82 on Wednesday. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $21.48. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $19.78 and its 200-day moving average price is $19.67. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 13.04 and a beta of 0.67.
CVB Financial (NASDAQ:CVBF – Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $132.12 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.36 earnings per share. Equities research analysts predict that CVB Financial Corporation will post 1.56 EPS for the current fiscal year.
CVB Financial Dividend Announcement
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Jupiter Asset Management Ltd. purchased a new position in shares of CVB Financial during the third quarter valued at approximately $896,000. Clifford Capital Partners LLC boosted its position in shares of CVB Financial by 3,800.6% during the third quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock valued at $12,581,000 after buying an additional 648,229 shares during the period. LSV Asset Management purchased a new position in shares of CVB Financial during the third quarter valued at approximately $2,324,000. Tudor Investment Corp ET AL boosted its position in shares of CVB Financial by 139.4% during the third quarter. Tudor Investment Corp ET AL now owns 101,128 shares of the financial services provider’s stock valued at $1,912,000 after buying an additional 58,882 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of CVB Financial by 13.9% during the third quarter. Principal Financial Group Inc. now owns 731,613 shares of the financial services provider’s stock valued at $13,835,000 after buying an additional 89,179 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.
Analysts Set New Price Targets
CVBF has been the subject of several recent research reports. Piper Sandler lifted their price target on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.
Get Our Latest Report on CVB Financial
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.
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