George A. Borba, Jr. Acquires 4,610 Shares of CVB Financial Corp. (NASDAQ:CVBF) Stock

CVB Financial Corp. (NASDAQ:CVBF) Director George A. Borba, Jr. purchased 4,610 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $16.00 per share, with a total value of $73,760.00. Following the completion of the transaction, the director now directly owns 665,121 shares in the company, valued at approximately $10,641,936. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CVB Financial Trading Up 1.1 %

NASDAQ:CVBF opened at $16.54 on Thursday. CVB Financial Corp. has a 12 month low of $12.82 and a 12 month high of $21.77. The firm’s 50 day moving average is $16.60 and its 200 day moving average is $17.65. The stock has a market capitalization of $2.31 billion, a PE ratio of 10.88 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The business had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Research analysts predict that CVB Financial Corp. will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Wedbush restated a “neutral” rating and issued a $19.00 target price on shares of CVB Financial in a research note on Thursday, April 25th. Finally, 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 research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.00.

Institutional Investors Weigh In On CVB Financial

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in CVB Financial by 1.0% during the third quarter. Swiss National Bank now owns 306,200 shares of the financial services provider’s stock worth $5,074,000 after purchasing an additional 2,900 shares during the period. Deutsche Bank AG grew its stake in CVB Financial by 15.4% in the 3rd quarter. Deutsche Bank AG now owns 63,464 shares of the financial services provider’s stock valued at $1,052,000 after buying an additional 8,489 shares in the last quarter. Federated Hermes Inc. bought a new stake in CVB Financial during the 3rd quarter valued at $218,000. Algert Global LLC lifted its position in shares of CVB Financial by 11.8% during the third quarter. Algert Global LLC now owns 228,186 shares of the financial services provider’s stock worth $3,781,000 after acquiring an additional 24,114 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 885 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

About CVB Financial

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.