CVB Financial (NASDAQ:CVBF) Director George Borba, Jr. Acquires 25,187 Shares

CVB Financial Corporation (NASDAQ:CVBFGet 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:CVBFGet 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

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

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

(Get Free Report)

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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