Bessemer Group Inc. Has $28.44 Million Stock Holdings in CVB Financial Corporation $CVBF

Key Points

• Bessemer Group Inc. increased its CVB Financial stake by 34.1% in the first quarter, ending with 1,466,670 shares worth about $28.44 million and representing roughly 1.08% of the company.
• CVB Financial reported Q1 EPS of $0.38, matching analyst expectations, though revenue of $132.12 million came in below estimates. Analysts currently see the stock as a Moderate Buy with a consensus price target of $24.30.
• The company declared a quarterly dividend of $0.20 per share, payable July 23, giving it an annualized yield of about 3.5%.

Bessemer Group Inc. raised its stake in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 34.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,466,670 shares of the financial services provider's stock after purchasing an additional 372,732 shares during the quarter. Bessemer Group Inc. owned approximately 1.08% of CVB Financial worth $28,439,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in shares of CVB Financial by 2.1% during the 4th quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider's stock worth $472,000 after purchasing an additional 521 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of CVB Financial by 0.8% in the 4th quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider's stock valued at $1,330,000 after buying an additional 561 shares during the last quarter. CWM LLC grew its stake in shares of CVB Financial by 6.3% in the fourth quarter. CWM LLC now owns 10,445 shares of the financial services provider's stock valued at $194,000 after buying an additional 620 shares in the last quarter. Bolthouse Investments LLC grew its stake in shares of CVB Financial by 1.1% in the fourth quarter. Bolthouse Investments LLC now owns 59,383 shares of the financial services provider's stock valued at $1,105,000 after buying an additional 637 shares in the last quarter. Finally, Savant Capital LLC grew its stake in shares of CVB Financial by 6.1% in the fourth quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider's stock valued at $211,000 after buying an additional 653 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company's stock.

CVB Financial Stock Down 2.1%

Shares of CVBF opened at $22.82 on Friday. The firm has a market cap of $4.03 billion, a P/E ratio of 15.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $23.36. The firm's 50-day simple moving average is $21.23 and its 200 day simple moving average is $20.31.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The firm had revenue of $132.12 million during the quarter, compared to the consensus estimate of $162.29 million. During the same period last year, the business posted $0.36 earnings per share. On average, analysts forecast that CVB Financial Corporation will post 1.63 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. CVB Financial's dividend payout ratio (DPR) is 52.63%.

Wall Street Analysts Forecast Growth

CVBF has been the topic of several analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CVB Financial in a research report on Wednesday, July 8th. Raymond James Financial raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 price objective for the company in a research report on Wednesday, July 1st. Stephens restated an "equal weight" rating and set a $23.00 price objective on shares of CVB Financial in a research note on Tuesday, June 16th. Finally, Piper Sandler upped their target price on shares of CVB Financial from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.30.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. purchased 50,242 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $19.90 per share, with a total value of $999,815.80. Following the acquisition, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. This trade represents a 6.74% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.40% of the company's stock.

About CVB Financial

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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