CVB Financial Corp. (CVBF) CEO Christopher D. Myers Sells 16,000 Shares

CVB Financial Corp. (NASDAQ:CVBF) CEO Christopher D. Myers sold 16,000 shares of CVB Financial stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $21.96, for a total value of $351,360.00. Following the sale, the chief executive officer now directly owns 284,157 shares in the company, valued at approximately $6,240,087.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

CVB Financial stock traded down $0.25 during mid-day trading on Thursday, hitting $20.81. The company’s stock had a trading volume of 286,700 shares, compared to its average volume of 442,816. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15. CVB Financial Corp. has a twelve month low of $19.21 and a twelve month high of $24.97.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. The firm had revenue of $125.84 million for the quarter, compared to analyst estimates of $121.24 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. As a group, equities analysts predict that CVB Financial Corp. will post 1.48 EPS for the current fiscal year.

Several equities research analysts recently commented on CVBF shares. FIG Partners cut CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, April 25th. BidaskClub raised CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Finally, Zacks Investment Research cut CVB Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.90.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cliffwater LLC boosted its stake in shares of CVB Financial by 56.3% during the 4th quarter. Cliffwater LLC now owns 8,038,386 shares of the financial services provider’s stock valued at $162,617,000 after buying an additional 2,895,796 shares during the period. Vanguard Group Inc. boosted its stake in shares of CVB Financial by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,983,877 shares of the financial services provider’s stock valued at $267,480,000 after buying an additional 1,361,412 shares during the period. Norges Bank acquired a new stake in shares of CVB Financial during the 4th quarter valued at $19,000,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of CVB Financial during the 4th quarter valued at $39,000. Finally, BlackRock Inc. boosted its stake in shares of CVB Financial by 2.2% during the 4th quarter. BlackRock Inc. now owns 15,840,480 shares of the financial services provider’s stock valued at $320,453,000 after buying an additional 344,230 shares during the period. Hedge funds and other institutional investors own 63.83% of the company’s stock.

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About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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