George A. Borba, Jr. Purchases 59,601 Shares of CVB Financial Corp. (NASDAQ:CVBF) Stock

CVB Financial Corp. (NASDAQ:CVBFGet Free Report) Director George A. Borba, Jr. acquired 59,601 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the transaction, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CVB Financial Stock Performance

CVB Financial stock opened at $17.15 on Thursday. CVB Financial Corp. has a 52 week low of $10.66 and a 52 week high of $25.43. The stock has a market capitalization of $2.39 billion, a P/E ratio of 10.79 and a beta of 0.46. The stock has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $17.89.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Friday, January 5th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Thursday, January 4th. CVB Financial’s payout ratio is currently 50.31%.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its holdings in shares of CVB Financial by 1,458.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,182 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 2,042 shares during the period. Quadrant Capital Group LLC raised its position in shares of CVB Financial by 145.1% in the second quarter. Quadrant Capital Group LLC now owns 2,493 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,476 shares in the last quarter. Strs Ohio acquired a new stake in shares of CVB Financial in the fourth quarter valued at approximately $36,000. FMR LLC raised its position in shares of CVB Financial by 96.0% in the second quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock valued at $44,000 after buying an additional 860 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of CVB Financial by 277.7% in the third quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock valued at $73,000 after buying an additional 2,116 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CVBF. Keefe, Bruyette & Woods lowered their price objective on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Wedbush lowered their price objective on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. TheStreet upgraded shares of CVB Financial from a “c+” rating to a “b-” rating in a research report on Thursday, December 14th. Stephens initiated coverage on CVB Financial in a research note on Friday, December 8th. They issued an “equal weight” rating and a $21.00 price target on the stock. Finally, StockNews.com raised CVB Financial to a “sell” rating in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

Check Out Our Latest Research Report on CVB Financial

About CVB Financial

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for CVB Financial (NASDAQ:CVBF)

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