CVB Financial (NASDAQ:CVBF) Director Anna Kan Sells 11,000 Shares

CVB Financial Corporation (NASDAQ:CVBF) Director Anna Kan sold 11,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total transaction of $223,850.00. Following the completion of the sale, the director directly owned 31,593 shares in the company, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CVB Financial Stock Down 1.1%

Shares of CVB Financial stock opened at $20.10 on Friday. The firm has a market cap of $2.77 billion, a PE ratio of 13.86 and a beta of 0.71. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $24.58. The company’s fifty day simple moving average is $19.94 and its two-hundred day simple moving average is $19.18.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $126.35 million for the quarter, compared to analyst estimates of $127.95 million. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. During the same quarter last year, the firm earned $0.36 EPS. As a group, sell-side analysts expect that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 10th. CVB Financial’s dividend payout ratio (DPR) is 55.17%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. lifted its position in CVB Financial by 1.3% during the 1st quarter. Federated Hermes Inc. now owns 42,126 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 539 shares during the period. Bolthouse Investments LLC lifted its position in CVB Financial by 1.0% during the 1st quarter. Bolthouse Investments LLC now owns 57,524 shares of the financial services provider’s stock valued at $1,062,000 after acquiring an additional 546 shares during the period. Diversified Trust Co lifted its position in CVB Financial by 1.1% during the 2nd quarter. Diversified Trust Co now owns 51,421 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 569 shares during the period. Hsbc Holdings PLC lifted its position in CVB Financial by 1.5% during the 1st quarter. Hsbc Holdings PLC now owns 43,777 shares of the financial services provider’s stock valued at $811,000 after acquiring an additional 665 shares during the period. Finally, GAMMA Investing LLC lifted its position in CVB Financial by 13.5% during the 2nd quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 685 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVBF shares. Keefe, Bruyette & Woods cut their target price on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. Piper Sandler lifted their target price on shares of CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.25.

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.