CVB Financial (NASDAQ:CVBF) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of CVB Financial Corporation (NASDAQ:CVBF) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $21.37 and traded as high as $22.51. CVB Financial shares last traded at $22.28, with a volume of 1,649,663 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVBF shares. DA Davidson raised 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. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Piper Sandler upped their target price on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target for the company in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.25.

CVB Financial Stock Up 1.2%

The stock has a market cap of $3.92 billion, a PE ratio of 15.37 and a beta of 0.66. The business has a 50 day moving average price of $22.53 and a 200 day moving average price of $21.37. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last announced its quarterly 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). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The company had revenue of $179.43 million for the quarter, compared to analysts’ expectations of $184.62 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities research analysts expect that CVB Financial Corporation will post 1.74 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 30th. CVB Financial’s payout ratio is 55.17%.

Insider Activity

In other news, Director Brien Raymond V. O. III bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the purchase, the director directly owned 85,780 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Mike Maddox purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the acquisition, the director directly owned 13,138 shares of the company’s stock, valued at $289,430.14. This represents a 318.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVBF. QRG Capital Management Inc. grew its position in shares of CVB Financial by 16.9% during the 2nd quarter. QRG Capital Management Inc. now owns 12,276 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 1,776 shares during the period. WINTON GROUP Ltd purchased a new position in shares of CVB Financial in the 2nd quarter valued at about $4,900,000. Integrated Wealth Concepts LLC acquired a new position in CVB Financial in the 2nd quarter worth about $186,000. Allworth Financial LP raised its holdings in CVB Financial by 49.0% in the 2nd quarter. Allworth Financial LP now owns 6,271 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 2,062 shares during the period. Finally, Arizona State Retirement System boosted its position in CVB Financial by 30.3% during the second quarter. Arizona State Retirement System now owns 46,088 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 10,716 shares in the last quarter. Institutional investors and hedge funds 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 financial institution serving businesses, professionals, individuals and nonprofit organizations. The company provides relationship-focused banking through a network of branches and commercial banking offices across Southern and Central California.

Citizens Business Bank offers a range of products and services, including commercial and small-business loans, commercial real estate financing, construction lending, agricultural lending, lines of credit, deposit accounts, cash-management and treasury services, online and mobile banking, and personal banking products.