Bank of New York Mellon Corp lowered its stake in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,321,487 shares of the financial services provider's stock after selling 66,911 shares during the period. Bank of New York Mellon Corp owned 0.97% of CVB Financial worth $25,624,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in CVBF. Dimensional Fund Advisors LP raised its position in CVB Financial by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,281,980 shares of the financial services provider's stock worth $135,447,000 after acquiring an additional 171,971 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in CVB Financial by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider's stock worth $102,092,000 after buying an additional 67,563 shares during the period. HoldCo Asset Management LP raised its position in CVB Financial by 17,051.0% during the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider's stock worth $41,366,000 after buying an additional 2,211,005 shares during the last quarter. Victory Capital Management Inc. raised its position in CVB Financial by 3.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider's stock worth $37,784,000 after buying an additional 74,914 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in CVB Financial by 2.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider's stock valued at $32,359,000 after acquiring an additional 39,771 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at CVB Financial
In other CVB Financial news, Director George A. Borba, Jr. purchased 25,187 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $19.85 per share, with a total value of $499,961.95. Following the completion of the acquisition, the director owned 846,308 shares in the company, valued at approximately $16,799,213.80. This represents a 3.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.40% of the company's stock.
CVB Financial Stock Down 0.3%
Shares of NASDAQ:CVBF opened at $22.50 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 15.52 and a beta of 0.65. The stock's 50-day moving average price is $21.54 and its two-hundred day moving average price is $20.47. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $23.36.
CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The company had revenue of $179.43 million during the quarter, compared to analysts' expectations of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same quarter in the prior year, the company earned $0.36 EPS. On average, research analysts forecast that CVB Financial Corporation will post 1.66 EPS for the current year.
CVB Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Stephens reaffirmed an "equal weight" rating and issued a $23.00 price objective on shares of CVB Financial in a report on Tuesday, June 16th. Piper Sandler boosted their price objective on CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Monday. Raymond James Financial upgraded CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 target price on the stock in a research note on Wednesday, July 1st. Weiss Ratings raised CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Finally, DA Davidson lifted their price target on CVB Financial from $22.50 to $25.00 and gave the company a "neutral" rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, CVB Financial presently has a consensus rating of "Moderate Buy" and an average price target of $25.25.
Read Our Latest Stock Analysis on CVB Financial
CVB Financial Company Profile
(
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.
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