Insider Buying: CVB Financial Corporation (NASDAQ:CVBF) Director Buys 53,567 Shares of Stock

Key Points

• CVB Financial Corporation Director George A. Borba, Jr. purchased 53,567 shares at an average price of $18.67, increasing his holdings by 8.05% to a total of 718,688 shares.
• The company reported earnings of $0.36 EPS, surpassing analyst expectations, and announced a quarterly dividend of $0.20 per share, yielding 4.3% annually.
• Recent analyst actions include a downgrade by Keefe, Bruyette & Woods lowering the target price to $24.00, and an upgrade by Piper Sandler increasing it to $26.00.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) Director George A. Borba, Jr. acquired 53,567 shares of CVB Financial stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $18.67 per share, for a total transaction of $1,000,095.89. Following the completion of the transaction, the director owned 718,688 shares in the company, valued at approximately $13,417,904.96. This trade represents a 8.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

CVB Financial Stock Performance

NASDAQ CVBF traded up $0.32 during trading hours on Monday, reaching $18.69. The stock had a trading volume of 652,296 shares, compared to its average volume of 896,555. The stock has a fifty day moving average of $19.58 and a 200 day moving average of $19.32. The stock has a market cap of $2.58 billion, a P/E ratio of 12.89 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.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $127.95 million. During the same quarter last year, the firm posted $0.36 EPS. On average, equities research analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current 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 given a dividend of $0.20 per share. The ex-dividend date was Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. CVB Financial's dividend payout ratio (DPR) is 55.17%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVBF shares. Keefe, Bruyette & Woods lowered their target price on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Piper Sandler increased their target price on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 28th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of CVB Financial by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider's stock worth $124,752,000 after acquiring an additional 400,670 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CVB Financial by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,396,677 shares of the financial services provider's stock valued at $99,623,000 after purchasing an additional 240,159 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of CVB Financial in the 4th quarter valued at approximately $94,382,000. Parallel Advisors LLC increased its holdings in shares of CVB Financial by 29.7% during the 1st quarter. Parallel Advisors LLC now owns 3,822,248 shares of the financial services provider's stock worth $70,559,000 after buying an additional 874,631 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of CVB Financial by 15.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider's stock valued at $49,979,000 after buying an additional 317,418 shares during the period. Hedge funds and other institutional investors own 74.18% of the company's stock.

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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