Key Points
- Director George Borba, Jr. bought 50,242 shares of CVB Financial at $19.90 each, spending nearly $1.0 million and boosting his stake by 6.74% to 796,024 shares.
- CVB Financial shares were trading slightly lower at $19.84, near their recent range, with the stock carrying a market cap of $2.69 billion and a P/E ratio of 13.05.
- The company recently reported EPS of $0.38, matching expectations, while revenue came in below estimates; it also pays a quarterly dividend of $0.20 per share, or a 4.0% annualized yield.
CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) Director George Borba, Jr. purchased 50,242 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $19.90 per share, for a total transaction of $999,815.80. Following the purchase, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. The trade was a 6.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
CVB Financial Trading Down 1.3%
Shares of CVBF opened at $19.84 on Wednesday. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $21.48. The business's fifty day moving average is $19.74 and its 200-day moving average is $19.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.72 and a current ratio of 0.73. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 13.05 and a beta of 0.67.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same quarter last year, the company posted $0.36 EPS. Equities analysts anticipate that CVB Financial Corporation will post 1.56 EPS for the current fiscal year.
CVB Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. CVB Financial's payout ratio is currently 52.63%.
Institutional Investors Weigh In On CVB Financial
Institutional investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. bought a new stake in shares of CVB Financial in the 3rd quarter valued at about $896,000. Clifford Capital Partners LLC grew its position in shares of CVB Financial by 3,800.6% in the 3rd 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 last quarter. LSV Asset Management bought a new stake in shares of CVB Financial in the 3rd quarter valued at about $2,324,000. Tudor Investment Corp ET AL grew its position in shares of CVB Financial by 139.4% in the 3rd 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 last quarter. Finally, Principal Financial Group Inc. grew its position in shares of CVB Financial by 13.9% in the 3rd 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 last quarter. Institutional investors own 74.18% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Piper Sandler boosted their price objective 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.
View Our Latest Stock Report on CVBF
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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