Mike Maddox Purchases 10,000 Shares of CVB Financial (NASDAQ:CVBF) Stock

CVB Financial Corporation (NASDAQ:CVBFGet Free Report) Director Mike Maddox purchased 10,000 shares of CVB Financial stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the purchase, the director owned 13,138 shares of the company’s stock, valued at $289,430.14. This trade represents a 318.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

CVB Financial Price Performance

CVBF opened at $21.87 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 15.08 and a beta of 0.64. The stock has a fifty day simple moving average of $22.61 and a two-hundred day simple moving average of $20.95. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $23.41.

CVB Financial (NASDAQ:CVBFGet Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same quarter last year, the firm posted $0.36 EPS. Research analysts predict that CVB Financial Corporation will post 1.72 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 annualized dividend and a yield of 3.7%. CVB Financial’s payout ratio is presently 55.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVBF. Royal Bank of Canada grew its holdings in shares of CVB Financial by 28.7% during the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock valued at $698,000 after buying an additional 8,432 shares during the last quarter. AQR Capital Management LLC raised its holdings in CVB Financial by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 12,992 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CVB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock valued at $1,456,000 after acquiring an additional 3,442 shares in the last quarter. Jones Financial Companies Lllp lifted its position in CVB Financial by 848.1% in the 1st quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CVB Financial by 9.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock valued at $8,458,000 after purchasing an additional 38,250 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CVBF. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Piper Sandler upped their price target on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. DA Davidson lifted their price objective on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

Get Our Latest Research Report on CVBF

About CVB Financial

(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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