Jupiter Topco LLC purchased a new stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 75,869 shares of the financial services provider's stock, valued at approximately $1,710,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Louisiana State Employees Retirement System purchased a new position in shares of CVB Financial during the first quarter valued at approximately $1,096,000. Bessemer Group Inc. raised its holdings in shares of CVB Financial by 34.1% during the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider's stock valued at $28,439,000 after acquiring an additional 372,732 shares in the last quarter. Legal & General Group Plc purchased a new stake in CVB Financial in the second quarter worth $8,705,000. Bernzott Capital Advisors purchased a new stake in CVB Financial in the first quarter worth $8,054,000. Finally, BlackRock Inc. bought a new stake in CVB Financial in the second quarter valued at $579,285,000. Institutional investors own 74.18% of the company's stock.
CVB Financial Price Performance
Shares of CVBF stock opened at $22.48 on Friday. The business's fifty day moving average is $22.62 and its 200 day moving average is $20.97. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 15.50 and a beta of 0.64. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.41.
CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $179.43 million for the quarter, compared to analysts' expectations of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same period in the prior year, the business posted $0.36 EPS. Research analysts expect that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.
CVB Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial's dividend payout ratio (DPR) is 55.17%.
Analysts Set New Price Targets
A number of research analysts have issued reports on CVBF shares. DA Davidson boosted their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Weiss Ratings raised shares of CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Piper Sandler lifted their target price 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. Wall Street Zen raised shares of CVB Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Stephens upgraded shares of CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 price objective for the company in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.25.
View Our Latest Research Report on CVB Financial
Insider Buying and Selling
In other CVB Financial news, Director Mike Maddox acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the purchase, the director directly owned 13,138 shares of the company's stock, valued at approximately $289,430.14. The trade was a 318.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David Harvey sold 40,000 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the completion of the sale, the chief operating officer owned 98,149 shares in the company, valued at approximately $2,251,538.06. This trade represents a 28.95% decrease in their position. The SEC filing for this sale provides additional information. 6.40% of the stock is currently owned by insiders.
About CVB Financial
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CVBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVB Financial Corporation (NASDAQ:CVBF - Free Report).
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