CVB Financial Corp. (NASDAQ:CVBF) Director Acquires $73,760.00 in Stock

CVB Financial Corp. (NASDAQ:CVBFGet Free Report) Director George A. Borba, Jr. acquired 4,610 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the purchase, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $16.44 on Friday. The company’s 50 day simple moving average is $16.61 and its 200 day simple moving average is $17.64. CVB Financial Corp. has a fifty-two week low of $12.82 and a fifty-two week high of $21.77. The firm has a market capitalization of $2.30 billion, a P/E ratio of 10.82 and a beta of 0.46.

CVB Financial (NASDAQ:CVBFGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The business had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. During the same period in the prior year, the business posted $0.42 earnings per share. CVB Financial’s revenue was down 8.9% compared to the same quarter last year. Sell-side analysts expect that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVBF has been the topic of a number of research reports. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research report on Monday, April 22nd. Keefe, Bruyette & Woods reduced their target price on shares of 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. Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Wedbush reiterated a “neutral” rating and set a $19.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.00.

Check Out Our Latest Analysis on CVB Financial

Hedge Funds Weigh In On CVB Financial

Several large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in CVB Financial by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 105,803 shares of the financial services provider’s stock valued at $1,888,000 after buying an additional 4,744 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in CVB Financial by 1.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 114,509 shares of the financial services provider’s stock worth $2,041,000 after purchasing an additional 1,396 shares during the period. Bessemer Group Inc. raised its holdings in CVB Financial by 7.3% in the first quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock worth $9,629,000 after purchasing an additional 36,894 shares during the period. Edgestream Partners L.P. raised its holdings in CVB Financial by 23.3% in the first quarter. Edgestream Partners L.P. now owns 96,327 shares of the financial services provider’s stock worth $1,718,000 after purchasing an additional 18,228 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in CVB Financial by 50.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 56,994 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 18,990 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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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