217,295 Shares in CVB Financial Corporation $CVBF Bought by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd acquired 217,295 shares of CVB Financial in the second quarter, worth approximately $4.9 million and representing 0.12% of the company. Institutional investors collectively own 74.18% of CVBF.
• CVB Financial reported quarterly EPS of $0.29, slightly below the $0.30 consensus estimate, while revenue of $179.43 million also missed expectations. The company maintains a quarterly dividend of $0.20, or $0.80 annually, yielding about 3.6%.
• Analyst sentiment is broadly positive, with four Buy ratings and one Hold rating; the stock has a consensus “Moderate Buy” rating and a $26.25 target price versus its recent $22.39 share price.

WINTON GROUP Ltd purchased a new position in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 217,295 shares of the financial services provider's stock, valued at approximately $4,900,000. WINTON GROUP Ltd owned 0.12% of CVB Financial at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in shares of CVB Financial during the 2nd quarter valued at about $186,000. Allworth Financial LP increased its holdings in CVB Financial by 49.0% in the second quarter. Allworth Financial LP now owns 6,271 shares of the financial services provider's stock worth $141,000 after purchasing an additional 2,062 shares in the last quarter. Arizona State Retirement System lifted its stake in CVB Financial by 30.3% in the second quarter. Arizona State Retirement System now owns 46,088 shares of the financial services provider's stock valued at $1,039,000 after buying an additional 10,716 shares during the period. Nykredit A S acquired a new position in CVB Financial in the second quarter valued at approximately $43,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of CVB Financial by 752.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,581 shares of the financial services provider's stock worth $81,000 after buying an additional 3,161 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Stock Performance

Shares of CVBF opened at $22.39 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day moving average price of $22.59 and a two-hundred day moving average price of $21.04. The firm has a market capitalization of $3.94 billion, a P/E ratio of 15.44 and a beta of 0.64. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $23.41.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The firm had revenue of $179.43 million during the quarter, compared to analysts' expectations of $184.62 million. During the same quarter in the prior year, the company earned $0.36 EPS. Equities analysts forecast that CVB Financial Corporation will post 1.74 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, July 9th. CVB Financial's dividend payout ratio is 55.17%.

Insider Activity

In related news, Director Brien Raymond V. O. III acquired 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the acquisition, the director owned 85,780 shares of the company's stock, valued at approximately $1,953,210.60. This represents a 30.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mike Maddox acquired 10,000 shares of the stock in a transaction on Monday, August 31st. The stock was bought at an average cost of $22.03 per share, for a total transaction of $220,300.00. Following the transaction, the director owned 13,138 shares of the company's stock, valued at approximately $289,430.14. This trade represents a 318.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 6.40% of the company's stock.

Analyst Upgrades and Downgrades

CVBF has been the subject of several recent analyst reports. Wall Street Zen raised shares of CVB Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Raymond James Financial upgraded shares of CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research report on Wednesday, July 1st. Weiss Ratings raised shares of CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. DA Davidson raised their price target on shares of CVB Financial from $22.50 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Piper Sandler lifted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.25.

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.

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