CVB Financial (NASDAQ:CVBF) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

CVB Financial Corporation (NASDAQ:CVBF)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

CVBF has been the topic of a number of recent analyst reports. Wall Street Zen downgraded CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. DA Davidson increased their target price on CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.17.

CVB Financial Price Performance

The stock’s fifty day moving average price is $19.64 and its 200-day moving average price is $19.45. The firm 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $133.85 million for the quarter, compared to analysts’ expectations of $135.45 million. CVB Financial had a return on equity of 9.30% and a net margin of 32.28%.During the same period in the prior year, the firm posted $0.36 earnings per share. On average, sell-side analysts anticipate that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were given a dividend of $0.20 per share. 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 presently 53.33%.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. purchased 27,094 shares of the company’s stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of $18.45 per share, for a total transaction of $499,884.30. Following the completion of the transaction, the director directly owned 745,782 shares in the company, valued at approximately $13,759,677.90. The trade was a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

Hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in CVB Financial during the third quarter worth $25,000. Hantz Financial Services Inc. lifted its stake in CVB Financial by 394.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 2,790 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in CVB Financial by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 854 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in CVB Financial during the 2nd quarter valued at about $103,000. Finally, GAMMA Investing LLC grew its position in CVB Financial by 10.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,384 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

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.