CVB Financial (NASDAQ:CVBF) Sees Strong Trading Volume – Here’s Why

Shares of CVB Financial Corporation (NASDAQ:CVBF) saw an uptick in trading volume on Thursday . 862,547 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 784,125 shares.The stock last traded at $19.4710 and had previously closed at $20.25.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of CVB Financial in a report on Monday. Wall Street Zen lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Sunday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.33.

CVB Financial Stock Performance

The company has a market capitalization of $2.62 billion, a PE ratio of 13.11 and a beta of 0.68. The stock has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $19.45.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $128.58 million for the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. Sell-side analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 13th. Stockholders of record on Monday, December 29th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.2%. CVB Financial’s dividend payout ratio (DPR) is currently 54.79%.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. acquired 27,094 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average cost of $18.45 per share, for a total transaction of $499,884.30. Following the completion of the acquisition, the director owned 745,782 shares of the company’s stock, valued at approximately $13,759,677.90. This trade represents a 3.77% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of CVB Financial

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in CVB Financial during the second quarter worth approximately $28,320,000. Clifford Capital Partners LLC boosted its holdings in CVB Financial by 3,800.6% during the third quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock valued at $12,581,000 after acquiring an additional 648,229 shares during the period. Dimensional Fund Advisors LP grew its position in shares of CVB Financial by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider’s stock valued at $124,752,000 after purchasing an additional 400,670 shares during the last quarter. Nuveen LLC bought a new position in shares of CVB Financial in the first quarter worth about $6,932,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of CVB Financial in the second quarter worth about $5,636,000. Institutional investors own 74.18% of the company’s stock.

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.