CVB Financial Corporation (NASDAQ:CVBF) Director Buys $1,000,095.89 in 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 the stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average price of $18.67 per share, with a total value of $1,000,095.89. Following the completion of the transaction, the director directly owned 718,688 shares of the company's stock, valued at $13,417,904.96. This trade represents a 8.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

CVB Financial Stock Performance

Shares of CVBF traded up $0.09 during midday trading on Friday, hitting $19.12. 149,668 shares of the stock were exchanged, compared to its average volume of 796,635. The firm has a market cap of $2.63 billion, a P/E ratio of 13.16 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 stock has a fifty day simple moving average of $19.58 and a 200 day simple moving average of $19.29.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm earned $0.36 earnings per share. As a group, equities 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 was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. CVB Financial's dividend payout ratio (DPR) is currently 55.17%.

Analysts Set New Price Targets

Several research analysts have recently commented on CVBF shares. Keefe, Bruyette & Woods lowered their price target on 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 raised their price target on CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th.

Institutional Trading of CVB Financial

A number of institutional investors have recently bought and sold shares of CVBF. AlphaQuest LLC purchased a new stake in CVB Financial during the 1st quarter worth about $27,000. Brooklyn Investment Group lifted its holdings in 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 worth $44,000 after buying an additional 2,407 shares during the last quarter. Quarry LP lifted its holdings in CVB Financial by 877.3% during the 1st quarter. Quarry LP now owns 3,010 shares of the financial services provider's stock worth $56,000 after buying an additional 2,702 shares during the last quarter. Blue Trust Inc. lifted its holdings 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 worth $83,000 after buying an additional 1,655 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings 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 worth $89,000 after buying an additional 3,719 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

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.