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 the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the sale, the director now owns 13,156 shares in the company, valued at approximately $225,493.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

CVB Financial Price Performance

NASDAQ CVBF traded down $0.09 during trading hours on Tuesday, reaching $16.90. The company’s stock had a trading volume of 888,668 shares, compared to its average volume of 839,086. CVB Financial Corp. has a 1-year low of $14.62 and a 1-year high of $21.77. The company’s 50-day moving average is $17.38 and its two-hundred day moving average is $17.22. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 11.24 and a beta of 0.47.

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

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a $0.20 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.73%. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CVBF. Arizona State Retirement System increased its stake in CVB Financial by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after buying an additional 725 shares in the last quarter. Raymond James & Associates boosted 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 worth $719,000 after acquiring an additional 854 shares during the last quarter. Louisiana State Employees Retirement System increased 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 purchasing an additional 1,100 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in CVB Financial by 1.1% in 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 last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in CVB Financial by 1.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 114,509 shares of the financial services provider’s stock valued at $2,041,000 after purchasing an additional 1,396 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stephens increased their price target on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Wedbush lifted their price target on CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 target price (up from $19.00) on shares of CVB Financial in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Hold” and an average target price of $20.00.

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.