CVB Financial (NASDAQ:CVBF) Shares Break Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• CVB Financial shares rose above their 200-day moving average, trading as high as $21.81 and last changing hands at $21.65, although the price remained below its 50-day average of $22.41.
• Analyst sentiment is generally positive: four analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $26.25.
• The company offers a 3.7% dividend yield, but its latest quarterly results slightly missed expectations, with earnings of $0.29 per share versus a $0.30 estimate and revenue of $179.43 million versus $184.62 million expected.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $21.50 and traded as high as $21.81. CVB Financial shares last traded at $21.65, with a volume of 738,746 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on CVBF shares. Weiss Ratings cut CVB Financial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday. Wall Street Zen upgraded CVB Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. DA Davidson lifted their target price on CVB Financial from $22.50 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Raymond James Financial upgraded CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a report on Wednesday, July 1st. Finally, Stephens upgraded CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 price target for the company in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $26.25.

CVB Financial Trading Up 0.7%

The firm has a market cap of $3.81 billion, a P/E ratio of 14.93 and a beta of 0.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a fifty day moving average of $22.41 and a 200-day moving average of $21.50.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The company had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%. During the same quarter in the previous year, the company earned $0.36 earnings per share. Equities research analysts forecast that CVB Financial Corporation will post 1.74 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, September 30th. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Insider Activity

In other news, COO David Harvey sold 40,000 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the completion of the transaction, the chief operating officer owned 98,149 shares of the company's stock, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brien Raymond V. O. III purchased 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average price of $22.77 per share, with a total value of $455,400.00. Following the transaction, the director directly owned 85,780 shares of the company's stock, valued at approximately $1,953,210.60. The trade was a 30.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On CVB Financial

Several large investors have recently made changes to their positions in CVBF. Nykredit A S bought a new stake in shares of CVB Financial during the second quarter valued at approximately $43,000. Public Employees Retirement System of Ohio acquired a new position in shares of CVB Financial during the second quarter worth approximately $53,000. EverSource Wealth Advisors LLC boosted its position in shares of CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider's stock worth $47,000 after buying an additional 695 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in CVB Financial in the 2nd quarter worth approximately $77,000. Finally, Parkside Financial Bank & Trust grew its holdings in CVB Financial by 752.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,581 shares of the financial services provider's stock worth $81,000 after buying an additional 3,161 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company's stock.

CVB Financial Company Profile

CVB Financial Corp. is the bank holding company for Citizens Business Bank, a California-based financial institution serving businesses, professionals, individuals and nonprofit organizations. The company provides relationship-focused banking through a network of branches and commercial banking offices across Southern and Central California.

Citizens Business Bank offers a range of products and services, including commercial and small-business loans, commercial real estate financing, construction lending, agricultural lending, lines of credit, deposit accounts, cash-management and treasury services, online and mobile banking, and personal banking products.

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