American Century Companies Inc. lessened its holdings in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 27.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,128,977 shares of the financial services provider's stock after selling 1,208,295 shares during the period. American Century Companies Inc. owned approximately 2.25% of CVB Financial worth $57,761,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of CVBF. Blue Trust Inc. lifted its stake in shares of CVB Financial by 58.8% in the 1st quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 1,655 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of CVB Financial by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 3,719 shares during the last quarter. KBC Group NV lifted its stake in shares of CVB Financial by 20.4% in the 1st quarter. KBC Group NV now owns 7,231 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 1,226 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of CVB Financial in the 1st quarter valued at $163,000. Finally, QRG Capital Management Inc. lifted its stake in shares of CVB Financial by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider's stock valued at $190,000 after purchasing an additional 878 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company's stock.
CVB Financial Trading Up 0.4%
CVBF opened at $19.42 on Tuesday. The stock's 50-day moving average price is $19.67 and its 200 day moving average price is $19.20. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $24.58. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 13.39 and a beta of 0.69.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The company had revenue of $126.35 million for the quarter, compared to analyst estimates of $127.95 million. CVB Financial had a return on equity of 9.21% and a net margin of 30.99%. During the same quarter last year, the company earned $0.36 EPS. On average, research analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current year.
CVB Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a yield of 4.1%. CVB Financial's dividend payout ratio (DPR) is currently 55.17%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Piper Sandler increased their target price on CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods decreased their target price on CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th.
Check Out Our Latest Stock Analysis on CVB Financial
Insider Transactions at CVB Financial
In related news, Director George A. Borba, Jr. purchased 53,567 shares of CVB Financial stock in a transaction on Monday, August 4th. The shares were bought at an average price of $18.67 per share, with a total value of $1,000,095.89. Following the transaction, the director directly owned 718,688 shares of the company's stock, valued at approximately $13,417,904.96. This trade represents a 8.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by corporate insiders.
CVB Financial 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.
Further Reading
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