Bank of America Corp DE grew its stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 28.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 925,555 shares of the financial services provider's stock after buying an additional 202,857 shares during the quarter. Bank of America Corp DE owned about 0.52% of CVB Financial worth $17,947,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd lifted its holdings in CVB Financial by 8,940.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of CVB Financial in the 4th quarter worth approximately $42,000. Larson Financial Group LLC lifted its stake in CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 1,791 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 695 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in CVB Financial during the second quarter worth approximately $103,000. Institutional investors and hedge funds own 74.18% of the company's stock.
CVB Financial Stock Down 2.2%
CVBF opened at $22.53 on Thursday. CVB Financial Corporation has a fifty-two week low of $17.94 and a fifty-two week high of $23.41. The business has a 50-day moving average of $22.38 and a 200-day moving average of $20.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $3.97 billion, a PE ratio of 15.54 and a beta of 0.65.
CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The firm had revenue of $179.43 million during the quarter, compared to analyst estimates 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 posted $0.36 EPS. Equities research analysts forecast that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.
CVB Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial's dividend payout ratio is presently 55.17%.
Insider Activity
In other CVB Financial news, COO David C. Harvey sold 40,000 shares of the firm'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 transaction, the chief operating officer directly owned 98,149 shares in the company, valued at $2,251,538.06. This trade represents a 28.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brien Raymond V. O. III purchased 20,000 shares of CVB Financial stock in a transaction on Tuesday, July 28th. The stock was bought at an average cost of $22.77 per share, with a total value of $455,400.00. Following the transaction, the director directly owned 85,780 shares of the company's stock, valued at approximately $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.40% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
CVBF has been the topic of several research reports. Wall Street Zen raised CVB Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. DA Davidson raised their price objective on CVB Financial from $22.50 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. 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 report on Wednesday, July 1st. Weiss Ratings raised CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Finally, Stephens raised CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 target price for the company in a report on Thursday, August 6th. Four 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.25.
View Our Latest Research Report on CVBF
CVB Financial 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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
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
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
