Key Points
- Director buying: CVB Financial director George Borba, Jr. bought 25,187 shares for about $499,962 at $19.85 per share, increasing his ownership by 3.07% to 846,308 shares.
- Recent performance and valuation: The stock was down 0.3% and last traded around $19.82, near its 50-day and 200-day moving averages. CVB Financial has a market cap of about $3.5 billion and a price-to-earnings ratio of 13.04.
- Dividend and analyst outlook: The company recently paid a quarterly dividend of $0.20 per share, or $0.80 annually, for a 4.0% yield. Analysts currently rate the stock a Moderate Buy with a consensus price target of $24.50.
CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) Director George Borba, Jr. bought 25,187 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $19.85 per share, with a total value of $499,961.95. Following the transaction, the director directly owned 846,308 shares of the company's stock, valued at approximately $16,799,213.80. This trade represents a 3.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
CVB Financial Stock Down 0.3%
Shares of NASDAQ:CVBF opened at $19.82 on Wednesday. The business has a 50 day simple moving average of $19.78 and a two-hundred day simple moving average of $19.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. CVB Financial Corporation has a 1 year low of $17.94 and a 1 year high of $21.48. The firm has a market capitalization of $3.50 billion, a PE ratio of 13.04 and a beta of 0.67.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The firm had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts predict 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 was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, April 1st. CVB Financial's payout ratio is currently 52.63%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. 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. Piper Sandler lifted their price target on shares of CVB Financial from $26.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, CVB Financial currently has an average rating of "Moderate Buy" and a consensus price target of $24.50.
Check Out Our Latest Analysis on CVB Financial
Hedge Funds Weigh In On CVB Financial
A number of large investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its stake in CVB Financial by 2.1% in the fourth quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider's stock worth $472,000 after buying an additional 521 shares in the last quarter. State of Alaska Department of Revenue raised its stake in CVB Financial by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider's stock worth $1,330,000 after buying an additional 561 shares in the last quarter. Savant Capital LLC raised its stake in CVB Financial by 5.6% in the third quarter. Savant Capital LLC now owns 10,689 shares of the financial services provider's stock worth $202,000 after buying an additional 564 shares in the last quarter. CWM LLC raised its stake in CVB Financial by 6.3% in the fourth quarter. CWM LLC now owns 10,445 shares of the financial services provider's stock worth $194,000 after buying an additional 620 shares in the last quarter. Finally, Bolthouse Investments LLC raised its stake in CVB Financial by 1.1% in the fourth quarter. Bolthouse Investments LLC now owns 59,383 shares of the financial services provider's stock worth $1,105,000 after buying an additional 637 shares in the last quarter. Institutional investors own 74.18% of the company's stock.
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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