Insider Selling: CVB Financial (NASDAQ:CVBF) Director Sells 11,000 Shares of Stock

Key Points

• CVB Financial Director Anna Kan sold 11,000 shares for $223,850, reducing her ownership by 25.83%.
• The company reported a quarterly EPS of $0.36, slightly exceeding analyst expectations of $0.35, with revenue of $126.35 million.
• CVB Financial recently declared a $0.20 quarterly dividend, yielding 4.0%, with a payout ratio of 55.17%.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) Director Anna Kan sold 11,000 shares of CVB Financial stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total value of $223,850.00. Following the completion of the transaction, the director owned 31,593 shares of the company's stock, valued at approximately $642,917.55. The trade was a 25.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CVB Financial Stock Up 0.3%

CVBF traded up $0.05 during trading on Wednesday, reaching $19.56. The stock had a trading volume of 625,078 shares, compared to its average volume of 600,711. The stock has a 50 day moving average of $19.88 and a two-hundred day moving average of $19.18. CVB Financial Corporation has a 1-year low of $16.01 and a 1-year high of $24.58. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 13.49 and a beta of 0.71.

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

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. CVB Financial's dividend payout ratio is currently 55.17%.

Institutional Trading of CVB Financial

A number of large investors have recently modified their holdings of CVBF. Public Sector Pension Investment Board raised its holdings in CVB Financial by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 441,662 shares of the financial services provider's stock worth $8,740,000 after purchasing an additional 25,235 shares in the last quarter. Tower Research Capital LLC TRC grew its position in CVB Financial by 87.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 18,940 shares of the financial services provider's stock worth $375,000 after purchasing an additional 8,828 shares during the last quarter. State of Tennessee Department of Treasury boosted its holdings in CVB Financial by 21.1% during the second quarter. State of Tennessee Department of Treasury now owns 39,276 shares of the financial services provider's stock worth $777,000 after buying an additional 6,854 shares in the last quarter. Vident Advisory LLC lifted its position in CVB Financial by 13.1% during the second quarter. Vident Advisory LLC now owns 220,234 shares of the financial services provider's stock worth $4,358,000 after buying an additional 25,527 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new position in shares of CVB Financial in the second quarter valued at approximately $259,000. Institutional investors own 74.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CVBF shares. Keefe, Bruyette & Woods decreased 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 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 note on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.25.

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.