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PARTNER NEWS:
Tue, Feb 20, 6:00 PM, Zacks
Featured MNV Articles:
| Top Buys by Directors: Borba Jr.'s $5M Bet on CVBFBy Dividend Channel Staff, Tuesday, September 12, 11:16 AM ET
The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $5M by George A. Borba Jr., Director at CVB Financial Corp (NASDAQ:CVBF). Borba Jr. bets big on CVBF:
Borba Jr.'s average cost works out to $19.37/share. In trading on Tuesday, bargain hunters could buy shares of CVB Financial Corp (NASDAQ:CVBF) and achieve a cost basis lower than Borba Jr., with shares changing hands as low as $17.18 per share. Shares of CVB Financial Corp were changing hands at $17.35 at last check, trading up about 0.7% on Tuesday. The chart below shows the one year performance of CVBF shares, versus its 200 day moving average:
Looking at the chart above, CVBF's low point in its 52 week range is $10.66 per share, with $29.25 as the 52 week high point — that compares with a last trade of $17.35. The current annualized dividend paid by CVB Financial Corp is $0.8/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 07/05/2023. Below is a long-term dividend history chart for CVBF, which can be of good help in judging whether the most recent dividend with approx. 4.7% annualized yield is likely to continue.
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