Bessemer Group Inc. grew its holdings in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 809,365 shares of the financial services provider's stock after purchasing an additional 32,474 shares during the period. Bessemer Group Inc. owned about 0.58% of CVB Financial worth $14,940,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CVBF. GAMMA Investing LLC grew its holdings in shares of CVB Financial by 1,845.6% in the first quarter. GAMMA Investing LLC now owns 93,777 shares of the financial services provider's stock worth $1,731,000 after acquiring an additional 88,957 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after acquiring an additional 2,597 shares during the period. Wells Fargo & Company MN grew its holdings in shares of CVB Financial by 16.7% in the fourth quarter. Wells Fargo & Company MN now owns 120,091 shares of the financial services provider's stock worth $2,571,000 after acquiring an additional 17,227 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of CVB Financial in the fourth quarter worth $699,000. Finally, Principal Financial Group Inc. grew its holdings in CVB Financial by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider's stock valued at $13,634,000 after purchasing an additional 17,734 shares during the period. Institutional investors own 74.18% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Piper Sandler reduced their price target on CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Monday, April 28th.
Check Out Our Latest Analysis on CVBF
CVB Financial Trading Up 2.3%
Shares of CVBF opened at $19.66 on Friday. The business's 50 day moving average is $18.92 and its 200 day moving average is $19.57. The company has a market capitalization of $2.71 billion, a PE ratio of 13.56 and a beta of 0.66. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $24.58.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $124.45 million. CVB Financial had a return on equity of 9.32% and a net margin of 30.24%. During the same quarter last year, the company earned $0.35 EPS. Equities research analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current year.
CVB Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, July 10th. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.
CVB Financial Company Profile
(
Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CVB Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVB Financial wasn't on the list.
While CVB Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
