CVB Financial (NASDAQ:CVBF) COO Sells $917,600.00 in Stock

CVB Financial Corporation (NASDAQ:CVBF) COO David Harvey sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total value of $917,600.00. Following the transaction, the chief operating officer directly owned 98,149 shares in the company, valued at approximately $2,251,538.06. This represents a 28.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $22.66 on Friday. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.36. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 15.63 and a beta of 0.65. The business has a 50 day simple moving average of $21.98 and a 200-day simple moving average of $20.67.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same quarter last year, the business earned $0.36 earnings per share. As a group, equities research analysts expect that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVBF shares. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a report on Thursday. Piper Sandler lifted their target price on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a report on Wednesday, July 1st. Finally, DA Davidson increased their price target on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, CVB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

Institutional Trading of CVB Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of CVB Financial during the second quarter worth $579,285,000. Deutsche Bank AG acquired a new stake in shares of CVB Financial in the second quarter worth $4,000,000. Global Retirement Partners LLC purchased a new position in shares of CVB Financial during the second quarter valued at $237,000. Bank of New York Mellon Corp acquired a new position in CVB Financial during the second quarter valued at $38,066,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in CVB Financial in the 2nd quarter worth about $209,000. Institutional investors own 74.18% of the company’s stock.

About CVB Financial

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.