Insider Buying: CVB Financial (NASDAQ:CVBF) Director Acquires $455,400.00 in Stock

CVB Financial Corporation (NASDAQ:CVBF) Director Brien Raymond III purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the transaction, the director owned 85,780 shares in the company, valued at $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

CVB Financial Trading Down 0.7%

CVBF stock opened at $22.67 on Friday. The business has a fifty day moving average price of $21.70 and a 200 day moving average price of $20.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.73. CVB Financial Corporation has a fifty-two week low of $17.94 and a fifty-two week high of $23.36. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 15.63 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $179.43 million during the quarter, compared to analyst estimates of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period in the prior year, the firm posted $0.36 EPS. Analysts expect that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is 55.17%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Wednesday, July 1st. Stephens boosted their price objective on CVB Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. DA Davidson upped their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Piper Sandler increased their target price on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CVB Financial has an average rating of “Moderate Buy” and a consensus price target of $25.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVBF. ProShare Advisors LLC raised its stake in CVB Financial by 2.1% in the fourth quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock valued at $472,000 after buying an additional 521 shares during the period. State of Alaska Department of Revenue grew its position in shares of CVB Financial by 0.8% in the fourth quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider’s stock valued at $1,330,000 after purchasing an additional 561 shares during the last quarter. CWM LLC increased its stake in shares of CVB Financial by 6.3% during the fourth quarter. CWM LLC now owns 10,445 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 620 shares during the period. Bolthouse Investments LLC lifted its holdings in CVB Financial by 1.1% during the 4th quarter. Bolthouse Investments LLC now owns 59,383 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 637 shares during the last quarter. Finally, Savant Capital LLC boosted its stake in CVB Financial by 6.1% in the 4th quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 653 shares during the period. Institutional investors own 74.18% of the company’s stock.

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.