Insider Buying: CVB Financial Corp. (NASDAQ:CVBF) EVP Purchases 1,100 Shares of Stock

CVB Financial Corp. (NASDAQ:CVBF) EVP David F. Farnsworth acquired 1,100 shares of CVB Financial stock in a transaction that occurred on Tuesday, April 30th. The shares were purchased at an average price of $16.41 per share, with a total value of $18,051.00. Following the transaction, the executive vice president now owns 57,474 shares of the company’s stock, valued at approximately $943,148.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $16.75 on Thursday. The company has a market capitalization of $2.34 billion, a P/E ratio of 11.02 and a beta of 0.46. CVB Financial Corp. has a 1-year low of $10.66 and a 1-year high of $21.77. The firm’s 50 day simple moving average is $16.93 and its two-hundred day simple moving average is $17.71.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company’s revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. On average, sell-side analysts anticipate that CVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.78%. CVB Financial’s payout ratio is 52.63%.

Analyst Ratings Changes

A number of research firms have issued reports on CVBF. Wedbush restated a “neutral” rating and set a $19.00 price target on shares of CVB Financial in a research note on Thursday, April 25th. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a report on Monday, April 22nd. Stephens reiterated an “equal weight” rating and issued a $20.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. StockNews.com upgraded CVB Financial to a “sell” rating in a research note on Friday, January 5th. Finally, Keefe, Bruyette & Woods lowered their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.00.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in CVB Financial by 2.5% in the 4th quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 854 shares in the last quarter. Covestor Ltd raised its position in shares of CVB Financial by 11.2% during the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after buying an additional 885 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of CVB Financial by 6.5% in the fourth quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock worth $561,000 after buying an additional 1,705 shares in the last quarter. Strs Ohio bought a new position in shares of CVB Financial during the fourth quarter worth $36,000. Finally, Natixis Advisors L.P. grew its stake in CVB Financial by 10.1% during the third quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 1,905 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

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.