CVB Financial Corp. (NASDAQ:CVBF) EVP Yamynn Deangelis sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $22.43, for a total value of $224,300.00. Following the sale, the executive vice president now directly owns 69,003 shares of the company’s stock, valued at approximately $1,547,737.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ CVBF opened at $22.40 on Friday. CVB Financial Corp. has a one year low of $19.50 and a one year high of $25.49. The company has a market cap of $2.47 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 0.01.
CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). CVB Financial had a return on equity of 11.11% and a net margin of 34.92%. The business had revenue of $103.43 million for the quarter, compared to analyst estimates of $102.47 million. During the same period in the prior year, the business earned $0.27 EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, research analysts predict that CVB Financial Corp. will post 1.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 3rd were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, October 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 2.50%. CVB Financial’s dividend payout ratio (DPR) is presently 52.34%.
Institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in CVB Financial by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 652,102 shares of the financial services provider’s stock valued at $14,621,000 after acquiring an additional 40,758 shares during the period. Northern Trust Corp grew its stake in CVB Financial by 0.9% in the second quarter. Northern Trust Corp now owns 2,348,953 shares of the financial services provider’s stock valued at $52,663,000 after acquiring an additional 21,711 shares during the period. Aperio Group LLC grew its stake in CVB Financial by 40.5% in the second quarter. Aperio Group LLC now owns 41,843 shares of the financial services provider’s stock valued at $938,000 after acquiring an additional 12,058 shares during the period. Pinebridge Investments L.P. grew its stake in CVB Financial by 7.1% in the second quarter. Pinebridge Investments L.P. now owns 89,914 shares of the financial services provider’s stock valued at $2,016,000 after acquiring an additional 5,970 shares during the period. Finally, UBS Group AG grew its stake in CVB Financial by 5.8% in the first quarter. UBS Group AG now owns 70,136 shares of the financial services provider’s stock valued at $1,588,000 after acquiring an additional 3,860 shares during the period. 70.17% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on CVBF. Zacks Investment Research raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub cut CVB Financial from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. FIG Partners raised CVB Financial from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 25th. Piper Jaffray Companies set a $23.00 target price on CVB Financial and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Hovde Group set a $25.00 target price on CVB Financial and gave the stock a “hold” rating in a research note on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.10.
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CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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