Jacobs Levy Equity Management Inc. Invests $4.03 Million in CVB Financial Corporation $CVBF

Key Points

• Jacobs Levy Equity Management Inc. purchased 218,036 shares of CVB Financial Corporation, valued at approximately $4.025 million, during the 1st quarter.
• Insider Director George A. Borba, Jr. acquired 53,567 shares at an average cost of $18.67 per share, increasing his ownership in CVB Financial by 8.05%.
• CVB Financial's most recent earnings report showed an EPS of $0.36, beating analysts' estimates, and the company announced a quarterly dividend of $0.20 per share.

Jacobs Levy Equity Management Inc. acquired a new position in CVB Financial Corporation (NASDAQ:CVBF - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 218,036 shares of the financial services provider's stock, valued at approximately $4,025,000. Jacobs Levy Equity Management Inc. owned about 0.16% of CVB Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Federated Hermes Inc. boosted its holdings in shares of CVB Financial by 1.3% in the first quarter. Federated Hermes Inc. now owns 42,126 shares of the financial services provider's stock worth $778,000 after buying an additional 539 shares during the last quarter. Bolthouse Investments LLC boosted its holdings in shares of CVB Financial by 1.0% in the first quarter. Bolthouse Investments LLC now owns 57,524 shares of the financial services provider's stock worth $1,062,000 after buying an additional 546 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of CVB Financial by 1.5% in the first quarter. Hsbc Holdings PLC now owns 43,777 shares of the financial services provider's stock worth $811,000 after buying an additional 665 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of CVB Financial by 9.4% in the first quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider's stock worth $190,000 after buying an additional 878 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of CVB Financial by 20.4% in the first quarter. KBC Group NV now owns 7,231 shares of the financial services provider's stock worth $133,000 after buying an additional 1,226 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company's stock.

Insider Buying and Selling at CVB Financial

In related news, Director George A. Borba, Jr. bought 53,567 shares of the stock in a transaction dated Monday, August 4th. The shares were purchased at an average price of $18.67 per share, with a total value of $1,000,095.89. Following the completion of the acquisition, the director owned 718,688 shares of the company's stock, valued at $13,417,904.96. This represents a 8.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anna Kan sold 11,000 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total transaction of $223,850.00. Following the completion of the transaction, the director directly owned 31,593 shares in the company, valued at $642,917.55. This trade represents a 25.83% decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

CVB Financial Stock Down 1.1%

NASDAQ:CVBF traded down $0.23 during trading hours on Friday, hitting $20.10. 736,288 shares of the stock traded hands, compared to its average volume of 558,901. CVB Financial Corporation has a 1 year low of $16.01 and a 1 year high of $24.58. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 13.86 and a beta of 0.71. The stock has a 50 day moving average price of $19.94 and a 200 day moving average price of $19.17.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. The business had revenue of $126.35 million for the quarter, compared to the consensus estimate of $127.95 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 10th. CVB Financial's payout ratio is 55.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods dropped their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, CVB Financial presently has a consensus rating of "Moderate Buy" and an average target price of $23.25.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.