Mike Maddox Purchases 10,000 Shares of CVB Financial (NASDAQ:CVBF) Stock

CVB Financial Corporation (NASDAQ:CVBF) Director Mike Maddox purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the purchase, the director owned 13,138 shares in the company, valued at $289,430.14. This represents a 318.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CVB Financial Stock Down 0.1%

NASDAQ:CVBF traded down $0.02 during mid-day trading on Monday, hitting $22.17. 1,052,841 shares of the company’s stock were exchanged, compared to its average volume of 1,559,673. CVB Financial Corporation has a one year low of $17.94 and a one year high of $23.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $22.58 and a 200 day moving average price of $20.93. The company has a market cap of $3.90 billion, a PE ratio of 15.29 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The business had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. During the same period in the prior year, the business posted $0.36 EPS. Equities analysts predict that CVB Financial Corporation will post 1.72 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. CVB Financial’s dividend payout ratio is presently 55.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target for the company in a report on Thursday, August 6th. 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 report on Wednesday, July 1st. Piper Sandler increased their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, DA Davidson raised their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Institutional Trading of CVB Financial

Institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd lifted its position in CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,967 shares during the period. Kestra Advisory Services LLC purchased a new stake in CVB Financial during the 4th quarter valued at $42,000. Nykredit A S bought a new position in shares of CVB Financial during the 2nd quarter valued at $43,000. Larson Financial Group LLC lifted its holdings in shares of CVB Financial by 288.9% during the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,791 shares during the period. Finally, EverSource Wealth Advisors LLC boosted 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 worth $47,000 after buying an additional 695 shares during the last quarter. Hedge funds and other 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.