Insider Buying: CVB Financial Corporation (NASDAQ:CVBF) Director Purchases 4,660 Shares of Stock

CVB Financial Corporation (NASDAQ:CVBF) Director Anna Kan acquired 4,660 shares of the stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the acquisition, the director now directly owns 17,660 shares of the company’s stock, valued at $379,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of CVB Financial Corporation (NASDAQ:CVBF) traded up 0.20% during trading on Friday, reaching $20.45. 210,178 shares of the company were exchanged. The firm’s 50 day moving average price is $21.74 and its 200 day moving average price is $21.93. CVB Financial Corporation has a one year low of $16.32 and a one year high of $24.63. The company has a market capitalization of $2.25 billion, a PE ratio of 20.33 and a beta of 1.51.

CVB Financial Corporation (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $81.26 million during the quarter, compared to analyst estimates of $80.10 million. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. During the same period in the prior year, the firm posted $0.23 EPS. Equities research analysts forecast that CVB Financial Corporation will post $1.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, July 6th were given a $0.14 dividend. This is a positive change from CVB Financial Corporation’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, July 3rd. CVB Financial Corporation’s dividend payout ratio is presently 56.00%.

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A number of large investors have recently added to or reduced their stakes in the stock. Strs Ohio raised its stake in shares of CVB Financial Corporation by 12.5% in the second quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock valued at $100,000 after buying an additional 500 shares in the last quarter. Cutler Capital Management LLC acquired a new stake in shares of CVB Financial Corporation during the first quarter valued at about $120,000. Riverhead Capital Management LLC raised its stake in shares of CVB Financial Corporation by 54.5% in the second quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock valued at $146,000 after buying an additional 2,291 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of CVB Financial Corporation by 29.3% in the second quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock valued at $158,000 after buying an additional 1,600 shares in the last quarter. Finally, Gradient Investments LLC raised its stake in shares of CVB Financial Corporation by 9.0% in the second quarter. Gradient Investments LLC now owns 7,302 shares of the financial services provider’s stock valued at $164,000 after buying an additional 600 shares in the last quarter. 67.60% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on CVBF shares. Zacks Investment Research downgraded shares of CVB Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Hovde Group upgraded shares of CVB Financial Corporation from an “underperform” rating to a “market perform” rating and set a $21.00 price objective on the stock in a report on Friday, May 19th. BidaskClub upgraded shares of CVB Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $23.00 price objective on shares of CVB Financial Corporation and gave the company a “hold” rating in a report on Tuesday, July 4th. Finally, Wedbush reiterated a “neutral” rating and issued a $22.00 price objective on shares of CVB Financial Corporation in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $21.50.

About CVB Financial Corporation

CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.

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