American Century Companies Inc. Decreases Position in CVB Financial Corporation $CVBF

Key Points

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American Century Companies Inc. trimmed its stake in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 27.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 about 2.25% of CVB Financial worth $57,761,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CVBF. Blue Trust Inc. raised 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 acquiring an additional 1,655 shares during the period. Sterling Capital Management LLC raised 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 acquiring an additional 3,719 shares during the period. KBC Group NV raised 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 acquiring an additional 1,226 shares during the period. Headlands Technologies LLC purchased a new stake in shares of CVB Financial in the 1st quarter valued at approximately $163,000. Finally, QRG Capital Management Inc. raised 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 acquiring an additional 878 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. acquired 53,567 shares of the company's stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $18.67 per share, with a total value of $1,000,095.89. Following the transaction, the director owned 718,688 shares in the company, valued at approximately $13,417,904.96. This trade represents a 8.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company's stock.

CVB Financial Stock Performance

Shares of CVBF traded up $1.02 during midday trading on Friday, hitting $20.27. The company had a trading volume of 979,195 shares, compared to its average volume of 661,366. The company's 50-day simple moving average is $19.71 and its 200-day simple moving average is $19.17. The firm has a market capitalization of $2.79 billion, a P/E ratio of 13.98 and a beta of 0.69. CVB Financial Corporation has a 1 year low of $16.01 and a 1 year high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. CVB Financial had a return on equity of 9.21% and a net margin of 30.99%.The business had revenue of $126.35 million during the quarter, compared to analysts' expectations of $127.95 million. During the same quarter last year, the business posted $0.36 EPS. Equities analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed 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 dividend yield of 3.9%. CVB Financial's dividend payout ratio is currently 55.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVBF shares. Piper Sandler boosted their price target on shares of CVB Financial from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods cut their target price on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.25.

About CVB Financial

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.