The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. CVB Financial Corp. shares valued at $999,997 were purchased by Borba George A Jr on Feb 06 ’24. At $16.78 per share, Borba George A Jr acquired 59,601 shares. The insider’s holdings grew to 626,311 shares worth approximately $10.34 million following the completion of this transaction.
Also, Brager David A. purchased 2,000 shares, netting a total of over 33,500 in proceeds. Following the buying of shares at $16.75 each, the insider now holds 152,814 shares.
Before that, Nicholson E Allen had added 2,000 shares to its account. In a trade valued at $33,540, the EVP & CFO bought CVB Financial Corp. shares for $16.77 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $1.52 million.
As published in a research note from Hovde Group on April 22, 2024, CVB Financial Corp. [CVBF] has been rated down from an Outperform to a Market perform and the price target has been revised to $18. Analysts at Stephens started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early December. As of May 25, 2023, Janney has increased its “Neutral” rating to a “Buy” for CVBF. Earlier on October 21, 2022, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for CVBF stock which previously was a “an Outperform”.
Analyzing CVBF Stock Performance
During the last five days, there has been a surge of approximately 3.32%. Over the course of the year, CVB Financial Corp. shares have dropped approximately -18.23%. Shares of the company reached a 52-week high of $20.45 on 01/02/24 and a 52-week low of $15.71 on 04/16/24. A 50-day SMA is recorded $16.99, while a 200-day SMA reached $17.51. Nevertheless, trading volume fell to 1.38 million shares from 1.14 million shares the previous day.
Support And Resistance Levels for CVB Financial Corp. (CVBF)
According to the 24-hour chart, there is a support level at 16.19, which, if violated, would cause prices to drop to 15.87. In the upper region, resistance lies at 16.98. The next price resistance is at 17.44. RSI (Relative Strength Index) is 47.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.43, which suggests the price will decrease in the coming days. Percent R is at 51.22%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
