Advantage Alpha Capital Partners LP Has $216,000 Stock Position in CVB Financial Corporation $CVBF

Key Points

• Advantage Alpha Capital Partners LP reduced its stake in CVB Financial Corporation by 60.8%, holding 11,678 shares worth $216,000 after selling 18,129 shares in the first quarter.
• CVB Financial reported a quarterly EPS of $0.36, surpassing analysts' expectations of $0.35, with a revenue of $126.35 million.
• The company declared a quarterly dividend of $0.20 per share, yielding 3.9% annually, with a payout ratio of 55.17%.

Advantage Alpha Capital Partners LP cut its holdings in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 60.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,678 shares of the financial services provider's stock after selling 18,129 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in CVB Financial were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Federated Hermes Inc. lifted 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 acquiring an additional 539 shares during the last quarter. Bolthouse Investments LLC increased its position in CVB Financial by 1.0% during the 1st quarter. Bolthouse Investments LLC now owns 57,524 shares of the financial services provider's stock worth $1,062,000 after purchasing an additional 546 shares in the last quarter. Hsbc Holdings PLC lifted its stake in CVB Financial by 1.5% in the 1st quarter. Hsbc Holdings PLC now owns 43,777 shares of the financial services provider's stock valued at $811,000 after purchasing an additional 665 shares during the last quarter. QRG Capital Management Inc. lifted its stake in CVB Financial by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider's stock valued at $190,000 after purchasing an additional 878 shares during the last quarter. Finally, KBC Group NV boosted its position in CVB Financial by 20.4% in the first quarter. KBC Group NV now owns 7,231 shares of the financial services provider's stock valued at $133,000 after buying an additional 1,226 shares in the last quarter. Institutional investors own 74.18% of the company's stock.

CVB Financial Stock Performance

CVBF stock opened at $20.27 on Friday. The company has a market capitalization of $2.79 billion, a P/E ratio of 13.98 and a beta of 0.69. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $24.58. The business has a 50-day simple moving average of $19.71 and a two-hundred day simple moving average of $19.19.

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

CVB Financial Dividend Announcement

The company 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. The ex-dividend date was Thursday, July 10th. This represents a $0.80 annualized dividend and a dividend yield of 3.9%. CVB Financial's dividend payout ratio is currently 55.17%.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. purchased 53,567 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were acquired at an average cost of $18.67 per share, for a total transaction of $1,000,095.89. Following the completion of the acquisition, the director owned 718,688 shares in the company, valued at $13,417,904.96. This trade represents a 8.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

CVB Financial Profile

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.

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