CVB Financial (NASDAQ:CVBF) Director Sells $223,850.00 in 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 the business's stock in a transaction dated 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 sale, the director owned 31,593 shares in the company, valued at $642,917.55. This represents a 25.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CVB Financial Stock Performance

Shares of CVBF traded down $0.13 during mid-day trading on Friday, hitting $20.20. 354,924 shares of the stock were exchanged, compared to its average volume of 769,910. The company has a market cap of $2.78 billion, a PE ratio of 13.91 and a beta of 0.71. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $24.58. The firm has a 50-day moving average of $19.96 and a two-hundred day moving average of $19.18.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly 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. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. The company had revenue of $126.35 million for the quarter, compared to analysts' expectations of $127.95 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts predict that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.20 dividend. The ex-dividend date was Thursday, July 10th. This represents a $0.80 annualized dividend and a yield of 4.0%. CVB Financial's dividend payout ratio (DPR) is currently 55.17%.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board increased its position in shares of CVB Financial by 6.1% during 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 acquiring an additional 25,235 shares during the period. Tower Research Capital LLC TRC grew its stake in CVB Financial by 87.3% in the second 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 in the last quarter. State of Tennessee Department of Treasury grew its stake in CVB Financial by 21.1% in 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 purchasing an additional 6,854 shares in the last quarter. Vident Advisory LLC increased its holdings in CVB Financial by 13.1% during the 2nd quarter. Vident Advisory LLC now owns 220,234 shares of the financial services provider's stock worth $4,358,000 after purchasing an additional 25,527 shares during the period. Finally, Teza Capital Management LLC bought a new stake in CVB Financial during the 2nd quarter valued at $259,000. Institutional investors own 74.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVBF shares. Keefe, Bruyette & Woods lowered their price objective 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 increased their price target on CVB Financial from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.25.

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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