CVB Financial (NASDAQ:CVBF) Reaches New 52-Week High – Should You Buy?

CVB Financial Corporation (NASDAQ:CVBF) shares reached a new 52-week high on Monday . The company traded as high as $23.36 and last traded at $23.3220, with a volume of 47970 shares trading hands. The stock had previously closed at $23.25.

Analyst Upgrades and Downgrades

CVBF has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday. DA Davidson boosted their price objective on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Stephens raised CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Thursday, August 6th. Finally, Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and an average target price of $26.25.

CVB Financial Trading Down 0.1%

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 stock’s 50-day moving average is $22.24 and its two-hundred day moving average is $20.77. The stock has a market cap of $4.09 billion, a P/E ratio of 16.03 and a beta of 0.65.

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

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.4%. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

Insider Activity

In other news, Director Brien Raymond V. O. III bought 20,000 shares of CVB Financial stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average cost of $22.77 per share, with a total value of $455,400.00. Following the completion of the acquisition, the director owned 85,780 shares of the company’s stock, valued at $1,953,210.60. This trade represents a 30.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George A. Borba, Jr. bought 25,187 shares of CVB Financial stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the acquisition, the director directly owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.40% of the company’s stock.

Institutional Trading of CVB Financial

Large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in CVB Financial by 2.1% in the fourth quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 521 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of CVB Financial by 0.8% during the fourth quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider’s stock worth $1,330,000 after purchasing an additional 561 shares in the last quarter. CWM LLC increased its position in shares of CVB Financial by 6.3% during the fourth quarter. CWM LLC now owns 10,445 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 620 shares in the last quarter. Bolthouse Investments LLC increased its position in shares of CVB Financial by 1.1% during the fourth quarter. Bolthouse Investments LLC now owns 59,383 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 637 shares in the last quarter. Finally, Savant Capital LLC lifted its holdings in shares of CVB Financial by 6.1% during the 4th quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

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.