CVB Financial (CVBF) was Smart Insider's stock pick of the week after non-executive director Raymond O'Brien and Vice Chair George Borba bought company shares.

O'Brien, who has served on the board since 2012 and was appointed a non-executive director in 2022, acquired $455,000 of stock at $22.77 apiece on July 28, increasing his stake by 30%, Smart Insider said in a Wednesday note.

The purchase was O'Brien's first since 2013, when he bought a combined $100,000 of shares in two transactions at about $12 apiece, the firm said.

Smart Insider described the latest acquisition as "very notable" given the 13-year gap and its larger size.

Borba, vice chair since March 2014, bought $3 million worth of shares in May at $20 apiece, according to Smart Insider. The firm said the purchase was "less unusual" but supported Smart Insider's positive rating.

Smart Insider ranked CVB Financial +1, indicating a strong positive signal.