Insider Buying: CVB Financial Corp. (NASDAQ:CVBF) CEO Acquires 2,000 Shares of Stock

CVB Financial Corp. (NASDAQ:CVBFGet Free Report) CEO David A. Brager purchased 2,000 shares of CVB Financial stock in a transaction on Tuesday, February 6th. The shares were purchased at an average cost of $16.75 per share, with a total value of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at $2,559,634.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

CVB Financial Price Performance

NASDAQ:CVBF opened at $17.15 on Thursday. The firm’s fifty day moving average price is $19.15 and its two-hundred day moving average price is $17.89. The company has a market cap of $2.39 billion, a P/E ratio of 10.79 and a beta of 0.46. CVB Financial Corp. has a one year low of $10.66 and a one year high of $25.43.

CVB Financial Dividend Announcement

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

Analyst Ratings Changes

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

Check Out Our Latest Report on CVBF

Institutional Investors Weigh In On CVB Financial

Hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its position in shares of CVB Financial by 172.4% during the 4th quarter. Morgan Stanley now owns 3,718,134 shares of the financial services provider’s stock worth $95,742,000 after purchasing an additional 2,353,360 shares in the last quarter. State Street Corp raised its position in shares of CVB Financial by 29.9% in the second quarter. State Street Corp now owns 8,084,109 shares of the financial services provider’s stock valued at $107,357,000 after buying an additional 1,861,050 shares in the last quarter. BlackRock Inc. boosted its stake in shares of CVB Financial by 7.7% in the first quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock valued at $483,284,000 after buying an additional 1,487,960 shares during the period. American Century Companies Inc. grew its position in CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after buying an additional 1,204,090 shares in the last quarter. Finally, Norges Bank bought a new position in CVB Financial during the 4th quarter worth $29,578,000. 74.51% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Company Profile

(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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