George Borba Jr Acquires 25,187 Shares of CVB Financial (NASDAQ:CVBF) Stock

CVB Financial Corporation (NASDAQ:CVBF) Director George Borba, Jr. bought 25,187 shares of the stock in a transaction on Tuesday, May 19th. The shares were acquired at an average cost of $19.85 per share, with a total value of $499,961.95. Following the acquisition, the director directly owned 846,308 shares in the company, valued at approximately $16,799,213.80. This trade represents a 3.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CVB Financial Trading Down 0.3%

Shares of CVBF stock traded down $0.06 during trading hours on Tuesday, reaching $19.82. The company had a trading volume of 1,292,765 shares, compared to its average volume of 1,818,392. CVB Financial Corporation has a 1-year low of $17.94 and a 1-year high of $21.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 13.04 and a beta of 0.67. The company has a 50 day moving average of $19.78 and a 200 day moving average of $19.67.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.The business had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, equities research analysts anticipate that CVB Financial Corporation will post 1.56 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. CVB Financial’s payout ratio is currently 52.63%.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd boosted its position in CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of CVB Financial in the fourth quarter worth $42,000. Larson Financial Group LLC boosted its holdings in CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 695 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in CVB Financial by 394.6% in the third quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 2,790 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler lifted their target price on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Weiss Ratings raised CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.