CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) Director Mike Maddox bought 10,000 shares of the company's stock in a transaction on Monday, August 31st. The shares were acquired at an average price of $22.03 per share, with a total value of $220,300.00. Following the transaction, the director directly owned 13,138 shares in the company, valued at approximately $289,430.14. The trade was a 318.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
CVB Financial Stock Down 0.1%
NASDAQ:CVBF opened at $22.17 on Tuesday. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $23.41. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $3.90 billion, a P/E ratio of 15.29 and a beta of 0.65. The stock's fifty day simple moving average is $22.61 and its 200-day simple moving average is $20.94.
CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings data 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 company had revenue of $179.43 million during 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 in the prior year, the company posted $0.36 EPS. Equities research analysts expect that CVB Financial Corporation will post 1.72 earnings per share for the current year.
CVB Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, July 9th. CVB Financial's payout ratio is presently 55.17%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CVBF. DA Davidson increased their price target on shares of CVB Financial from $22.50 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Piper Sandler boosted their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Monday, July 27th. Stephens raised shares of CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 target price for the company in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of CVB Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, CVB Financial presently has an average rating of "Moderate Buy" and a consensus price target of $26.25.
Get Our Latest Stock Report on CVB Financial
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new stake in CVB Financial in the 1st quarter valued at $1,096,000. Bessemer Group Inc. increased its holdings in CVB Financial by 34.1% during the 1st quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider's stock worth $28,439,000 after purchasing an additional 372,732 shares in the last quarter. Bernzott Capital Advisors bought a new position in CVB Financial during the 1st quarter worth about $8,054,000. Bank of America Corp DE raised its stake in shares of CVB Financial by 28.1% in the 1st quarter. Bank of America Corp DE now owns 925,555 shares of the financial services provider's stock valued at $17,947,000 after purchasing an additional 202,857 shares during the period. Finally, BlackRock Inc. acquired a new stake in shares of CVB Financial in the 2nd quarter valued at about $579,285,000. Institutional investors and hedge funds own 74.18% of the company's stock.
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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