Insider Selling: CVB Financial (NASDAQ:CVBF) Director Sells 1,200 Shares of 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 business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $19.55, for a total transaction of $23,460.00. Following the completion of the transaction, the director owned 24,910 shares in the company, valued at $486,990.50. This represents a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CVB Financial Trading Down 0.1%

CVBF stock traded down $0.02 during trading on Wednesday, reaching $19.29. The stock had a trading volume of 371,891 shares, compared to its average volume of 739,455. The firm has a fifty day moving average price of $19.67 and a 200 day moving average price of $19.20. The company has a market capitalization of $2.66 billion, a P/E ratio of 13.30 and a beta of 0.69. CVB Financial Corporation has a 1-year low of $16.01 and a 1-year high of $24.58.

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

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were given a $0.20 dividend. 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 presently 55.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Piper Sandler boosted 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. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $23.25.

Institutional Investors Weigh In On CVB Financial

Institutional investors have recently modified their holdings of the business. AlphaQuest LLC bought a new stake in shares of CVB Financial during the 1st quarter valued at about $27,000. Brooklyn Investment Group grew its position in shares of CVB Financial by 240,700.0% during the 1st quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider's stock valued at $44,000 after buying an additional 2,407 shares during the last quarter. Quarry LP grew its position in shares of CVB Financial by 877.3% during the 1st quarter. Quarry LP now owns 3,010 shares of the financial services provider's stock valued at $56,000 after buying an additional 2,702 shares during the last quarter. Blue Trust Inc. boosted its stake in CVB Financial by 58.8% during the 1st quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 1,655 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in CVB Financial by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 3,719 shares during the period. Institutional investors own 74.18% of the company's stock.

About CVB Financial

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.