CVB Financial Corporation $CVBF Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 49.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 427,694 shares of the financial services provider's stock after buying an additional 141,202 shares during the period. Renaissance Technologies LLC owned approximately 0.31% of CVB Financial worth $8,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in CVB Financial by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider's stock worth $147,620,000 after buying an additional 331,307 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $102,092,000 after acquiring an additional 67,563 shares during the period. HoldCo Asset Management LP lifted its holdings in shares of 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 valued at $41,366,000 after acquiring an additional 2,211,005 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of 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 valued at $37,784,000 after acquiring an additional 74,914 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 worth $32,359,000 after purchasing an additional 39,771 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on CVBF shares. Stephens increased their price target on CVB Financial from $23.00 to $25.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Weiss Ratings upgraded CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Raymond James Financial raised CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 target price for the company in a research report on Wednesday, July 1st. DA Davidson increased their target price on CVB Financial from $22.50 to $25.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Piper Sandler raised their target price on CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, CVB Financial has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

CVB Financial Stock Up 2.2%

Shares of CVB Financial stock opened at $22.86 on Tuesday. CVB Financial Corporation has a 1-year low of $17.94 and a 1-year high of $23.36. The company has a market capitalization of $4.03 billion, a PE ratio of 15.77 and a beta of 0.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.73. The business has a 50-day moving average of $21.79 and a 200-day moving average of $20.59.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business 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 last year, the firm posted $0.36 EPS. As a group, equities analysts forecast that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.80 annualized dividend and a yield of 3.5%. CVB Financial's payout ratio is currently 55.17%.

Insider Buying and Selling

In related news, Director Brien Raymond V. O. III purchased 20,000 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average price of $22.77 per share, with a total value of $455,400.00. Following the completion of the transaction, the director owned 85,780 shares of the company's stock, valued at $1,953,210.60. This represents a 30.40% 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 the SEC website. Also, 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 bought at an average price of $19.90 per share, with a total value of $999,815.80. Following the purchase, the director owned 796,024 shares of the company's stock, valued at approximately $15,840,877.60. The trade was a 6.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 95,429 shares of company stock worth $1,955,178. 6.40% of the stock is currently owned by corporate insiders.

CVB Financial Profile

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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