CVB Financial (NASDAQ:CVBF) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

CVB Financial Corporation (NASDAQ:CVBF) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.45 and traded as high as $19.81. CVB Financial shares last traded at $19.71, with a volume of 2,597,301 shares traded.

Wall Street Analysts Forecast Growth

CVBF has been the topic of a number of recent research reports. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Weiss Ratings restated a “hold (c)” rating on shares of CVB Financial in a report on Monday, December 29th. Finally, DA Davidson increased their price target on CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

CVB Financial Price Performance

The firm has a 50 day moving average of $19.64 and a two-hundred day moving average of $19.45. The stock has a market cap of $2.70 billion, a PE ratio of 13.14 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. CVB Financial had a net margin of 32.28% and a return on equity of 9.30%. The company had revenue of $133.85 million for the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter last year, the company earned $0.36 earnings per share. As a group, equities analysts anticipate that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, December 29th. CVB Financial’s dividend payout ratio (DPR) is 53.33%.

Insider Buying and Selling

In other news, Director George A. Borba, Jr. acquired 27,094 shares of the company’s stock in a transaction on Friday, November 14th. The shares were bought at an average price of $18.45 per share, with a total value of $499,884.30. Following the completion of the acquisition, the director owned 745,782 shares in the company, valued at $13,759,677.90. This trade represents a 3.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVB Financial

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in CVB Financial by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 7,110,009 shares of the financial services provider’s stock valued at $134,452,000 after purchasing an additional 147,061 shares during the period. Victory Capital Management Inc. grew its holdings in shares of CVB Financial by 3.7% during the third quarter. Victory Capital Management Inc. now owns 1,956,467 shares of the financial services provider’s stock worth $36,997,000 after buying an additional 69,774 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in CVB Financial by 2.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock valued at $32,359,000 after acquiring an additional 39,771 shares during the period. Norges Bank acquired a new position in CVB Financial in the 2nd quarter valued at about $28,320,000. Finally, Bessemer Group Inc. raised its stake in CVB Financial by 29.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock valued at $20,720,000 after acquiring an additional 249,490 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

About CVB Financial

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.