CVB Financial Corp. (NASDAQ:CVBF) Director George A. Borba, Jr. Purchases 34,200 Shares of Stock

CVB Financial Corp. (NASDAQ:CVBF) Director George A. Borba, Jr. acquired 34,200 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $15.99 per share, with a total value of $546,858.00. Following the completion of the acquisition, the director now owns 660,511 shares in the company, valued at $10,561,570.89. The purchase was disclosed in a filing with the SEC, which is available at this link.

CVB Financial Price Performance

NASDAQ:CVBF opened at $16.54 on Wednesday. The firm has a 50-day moving average of $16.60 and a two-hundred day moving average of $17.66. The stock has a market cap of $2.31 billion, a P/E ratio of 10.88 and a beta of 0.46. CVB Financial Corp. has a 1-year low of $12.82 and a 1-year high of $21.77.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. As a group, equities analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of CVB Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock worth $317,014,000 after purchasing an additional 176,694 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CVB Financial by 16.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after purchasing an additional 594,901 shares during the last quarter. American Century Companies Inc. lifted its position in shares of CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after purchasing an additional 1,204,090 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of CVB Financial by 104.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock worth $78,694,000 after purchasing an additional 1,994,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CVB Financial by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,784,666 shares of the financial services provider’s stock worth $76,412,000 after purchasing an additional 190,343 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVBF shares. Keefe, Bruyette & Woods dropped their price objective on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Janney Montgomery Scott downgraded CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Wedbush reiterated a “neutral” rating and issued a $19.00 price target on shares of CVB Financial in a report on Thursday, April 25th. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a report on Monday, April 22nd. Finally, Stephens reiterated an “equal weight” rating and issued a $20.00 price target on shares of CVB Financial in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.00.

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.