CVB Financial Corporation (NASDAQ:CVBF – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $22.96 and last traded at $22.6930, with a volume of 7259 shares trading hands. The stock had previously closed at $22.55.
Analyst Ratings Changes
A number of research analysts recently commented on CVBF shares. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Wednesday. Piper Sandler upped their target price on shares of CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Finally, Stephens reaffirmed an “equal weight” rating and set a $23.00 price objective on shares of CVB Financial in a research report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.30.
Read Our Latest Stock Analysis on CVBF
CVB Financial Price Performance
CVB Financial (NASDAQ:CVBF – Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities research analysts forecast that CVB Financial Corporation will post 1.56 EPS for the current year.
CVB Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.80 annualized dividend and a yield of 3.5%. CVB Financial’s dividend payout ratio is 52.63%.
Insider Transactions at CVB Financial
In related news, Director George A. Borba, Jr. acquired 25,187 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $19.85 per share, with a total value of $499,961.95. Following the completion of the transaction, the director owned 846,308 shares in the company, valued at $16,799,213.80. This represents a 3.07% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On CVB Financial
Several institutional investors have recently modified their holdings of CVBF. Aster Capital Management DIFC Ltd increased its holdings in CVB Financial by 8,940.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of CVB Financial in the 4th quarter valued at about $42,000. Larson Financial Group LLC increased its holdings in shares of CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,791 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of CVB Financial by 40.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 695 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of CVB Financial during the 2nd quarter worth about $103,000. 74.18% of the stock is owned by hedge funds and other institutional investors.
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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