Insider Selling: CVB Financial Corp. (NASDAQ:CVBF) Director Sells 2,961 Shares of Stock

CVB Financial Corp. (NASDAQ:CVBF) Director Kimberly H. Sheehy sold 2,961 shares of CVB Financial stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $17.14, for a total value of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares of the company’s stock, valued at $225,493.84. The sale was disclosed in a legal filing with the SEC, which is available through this link.

CVB Financial Trading Down 0.5 %

CVB Financial stock traded down $0.09 during mid-day trading on Tuesday, reaching $16.90. The company had a trading volume of 888,668 shares, compared to its average volume of 839,086. The business has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $17.22. The company has a market cap of $2.36 billion, a P/E ratio of 11.24 and a beta of 0.47. CVB Financial Corp. has a fifty-two week low of $14.62 and a fifty-two week high of $21.77.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. CVB Financial’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Research analysts forecast that CVB Financial Corp. will post 1.4 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.73%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVBF. Stephens boosted their price target on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. Hovde Group downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday, April 22nd. Finally, Wedbush raised their target price on CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, July 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 company presently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in shares of CVB Financial by 1.9% during the second quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 725 shares during the period. Raymond James & Associates increased its stake in shares of CVB Financial by 2.5% in the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock valued at $719,000 after buying an additional 854 shares during the period. Louisiana State Employees Retirement System raised its position in shares of CVB Financial by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock worth $1,150,000 after acquiring an additional 1,100 shares during the last quarter. Texas Permanent School Fund Corp increased its position in CVB Financial by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider’s stock valued at $2,062,000 after purchasing an additional 1,299 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in CVB Financial by 1.2% during the 1st 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 last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Company Profile

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.