CVB Financial Corporation (NASDAQ:CVBF) Director Sells $23,460.00 in Stock

Key Points

• CVB Financial Corporation director Jane Olvera sold 1,200 shares at $19.55 each, totaling $23,460, reducing her ownership by 4.60% to 24,910 shares.
• The company's stock price decreased by 1.6% to $19.34, with a market capitalization of $2.67 billion and a 52-week range of $16.01 to $24.58.
• CVB Financial recently announced a quarterly dividend of $0.20 per share, translating to an annualized yield of 4.1% and a payout ratio of 55.17%.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) Director Jane Olvera sold 1,200 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $19.55, for a total value of $23,460.00. Following the sale, the director directly owned 24,910 shares of the company's stock, valued at approximately $486,990.50. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CVB Financial Stock Down 1.6%

Shares of NASDAQ CVBF traded down $0.32 during trading hours on Friday, reaching $19.34. 621,793 shares of the stock traded hands, compared to its average volume of 794,695. The company has a market capitalization of $2.67 billion, a P/E ratio of 13.34 and a beta of 0.69. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $24.58. The company's 50-day simple moving average is $19.66 and its two-hundred day simple moving average is $19.24.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The business had revenue of $126.35 million for the quarter, compared to analysts' expectations of $127.95 million. CVB Financial had a return on equity of 9.21% and a net margin of 30.99%. During the same period in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.80 annualized dividend and a dividend yield of 4.1%. CVB Financial's payout ratio is 55.17%.

Hedge Funds Weigh In On CVB Financial

Several hedge funds have recently made changes to their positions in CVBF. Federated Hermes Inc. boosted its position in shares of CVB Financial by 1.3% during the first quarter. Federated Hermes Inc. now owns 42,126 shares of the financial services provider's stock valued at $778,000 after purchasing an additional 539 shares in the last quarter. Bolthouse Investments LLC boosted its holdings in CVB Financial by 1.0% in the first quarter. Bolthouse Investments LLC now owns 57,524 shares of the financial services provider's stock worth $1,062,000 after acquiring an additional 546 shares in the last quarter. Diversified Trust Co boosted its holdings in CVB Financial by 1.1% in the second quarter. Diversified Trust Co now owns 51,421 shares of the financial services provider's stock worth $1,018,000 after acquiring an additional 569 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in CVB Financial by 1.5% in the first quarter. Hsbc Holdings PLC now owns 43,777 shares of the financial services provider's stock worth $811,000 after acquiring an additional 665 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of CVB Financial by 13.5% in the second quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider's stock worth $114,000 after purchasing an additional 685 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their target price on CVB Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Piper Sandler lifted their price target on CVB Financial from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 28th.

CVB Financial Company Profile

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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