CVB Financial (NASDAQ:CVBF) Sets New 1-Year High – Should You Buy?

Shares of CVB Financial Corporation (NASDAQ:CVBF) reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.96 and last traded at $22.6930, with a volume of 7259 shares changing hands. The stock had previously closed at $22.55.

Analyst Ratings Changes

CVBF has been the subject of several recent research reports. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Wednesday. Piper Sandler lifted their target price on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Stephens reiterated an “equal weight” rating and set a $23.00 price target on shares of CVB Financial in a report on Tuesday, June 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.30.

CVB Financial Trading Down 1.3%

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.03 billion, a PE ratio of 15.01 and a beta of 0.65. The stock’s fifty day moving average price is $20.73 and its two-hundred day moving average price is $20.09.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The company had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same quarter in the previous year, the business earned $0.36 EPS. Sell-side analysts anticipate that CVB Financial Corporation will post 1.56 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is currently 52.63%.

Insider Activity

In other CVB Financial news, Director George A. Borba, Jr. bought 50,242 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the acquisition, the director directly owned 796,024 shares in the company, valued at $15,840,877.60. The trade was a 6.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. HoldCo Asset Management LP lifted its holdings in shares of CVB Financial by 17,051.0% during the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock valued at $41,366,000 after purchasing an additional 2,211,005 shares in the last quarter. Clifford Capital Partners LLC boosted its position in shares of CVB Financial by 3,800.6% during the third quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock valued at $12,581,000 after buying an additional 648,229 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in CVB Financial by 71.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider’s stock worth $23,684,000 after buying an additional 507,228 shares in the last quarter. Weiss Asset Management LP purchased a new position in CVB Financial in the 1st quarter worth about $8,303,000. Finally, Bernzott Capital Advisors purchased a new position in CVB Financial in the 1st quarter worth about $8,054,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.