Key Points
- Director George Borba, Jr. bought 27,094 shares of CVB Financial at an average price of $18.45 on November 14 for a total of about $499,884, bringing his ownership to 745,782 shares (a 3.77% increase) valued at roughly $13.76 million.
- CVB reported quarterly EPS of $0.38, beating estimates by $0.01 while revenue of $128.6 million missed expectations; the company has a market cap of about $2.58 billion and a P/E of 12.92.
- CVB pays a quarterly dividend of $0.20 (annualized $0.80) for a yield of 4.2% with a payout ratio near 54.8%, and analysts hold a consensus rating of "Moderate Buy" with a consensus price target of $24.33.
CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) Director George Borba, Jr. bought 27,094 shares of the company's stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average cost of $18.45 per share, for a total transaction of $499,884.30. Following the acquisition, the director owned 745,782 shares of the company's stock, valued at $13,759,677.90. This represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
CVB Financial Price Performance
Shares of CVB Financial stock traded up $0.22 during trading on Friday, hitting $18.86. The stock had a trading volume of 1,294,536 shares, compared to its average volume of 772,354. The business has a fifty day moving average of $19.08 and a two-hundred day moving average of $19.38. CVB Financial Corporation has a fifty-two week low of $16.01 and a fifty-two week high of $24.58. The firm has a market cap of $2.58 billion, a P/E ratio of 12.92 and a beta of 0.69.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. The firm had revenue of $128.58 million for the quarter, compared to analysts' expectations of $131.10 million. As a group, research analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current year.
CVB Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. CVB Financial's dividend payout ratio is currently 54.79%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on CVBF shares. Weiss Ratings restated a "hold (c)" rating on shares of CVB Financial in a report on Tuesday, October 14th. Keefe, Bruyette & Woods cut their price objective on CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Piper Sandler lifted their target price on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised shares of CVB Financial from a "sell" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.
View Our Latest Research Report on CVB Financial
Institutional Investors Weigh In On CVB Financial
A number of institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas purchased a new stake in shares of CVB Financial during the first quarter worth $377,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of CVB Financial by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,636,814 shares of the financial services provider's stock valued at $30,216,000 after buying an additional 185,890 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of CVB Financial by 21.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,806,879 shares of the financial services provider's stock valued at $33,355,000 after buying an additional 318,882 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CVB Financial during the first quarter valued at approximately $205,000. Finally, Inspire Advisors LLC raised its position in CVB Financial by 28.3% during the first quarter. Inspire Advisors LLC now owns 128,950 shares of the financial services provider's stock valued at $2,380,000 after acquiring an additional 28,405 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company's stock.
CVB Financial Company Profile
(
Get Free Report)
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.
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