CVB Financial (NASDAQ:CVBF) Reaches New 1-Year High – Should You Buy?

CVB Financial Corporation (NASDAQ:CVBF) reached a new 52-week high during trading on Tuesday . The stock traded as high as $21.63 and last traded at $21.4010, with a volume of 317378 shares. The stock had previously closed at $20.84.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVBF. Stephens reiterated an “equal weight” rating and set a $23.00 price target on shares of CVB Financial in a report on Tuesday. Weiss Ratings raised shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Finally, Piper Sandler lifted their target price on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $24.13.

CVB Financial Price Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.63 billion, a PE ratio of 13.53 and a beta of 0.66. The stock has a 50-day simple moving average of $20.38 and a 200 day simple moving average of $19.92.

CVB Financial (NASDAQ:CVBF) last posted its earnings results 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 company had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities analysts expect that CVB Financial Corporation will post 1.56 EPS for the current year.

Insider Activity

In related news, Director George A. Borba, Jr. purchased 25,187 shares of CVB Financial stock in a transaction dated 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 purchase, the director owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd raised its stake in shares of CVB Financial by 8,940.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,967 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of CVB Financial in the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its stake in shares of CVB Financial by 40.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 695 shares during the period. Larson Financial Group LLC raised its stake in shares of CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,791 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $103,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

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.