Fuller & Thaler Asset Management Inc. Trims Stake in CVB Financial Corporation $CVBF

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in CVB Financial Corporation by 0.7%, owning approximately 1.67% of the company, valued at $42.79 million as of their latest SEC filing.
• CVB Financial reported a quarterly EPS of $0.36, slightly beating analyst expectations of $0.35, while generating revenue of $126.35 million, which fell short of estimates.
• The company declared a quarterly dividend of $0.20, representing a 4.1% annualized yield, with a payout ratio of 55.17% as of the last dividend declaration.

Fuller & Thaler Asset Management Inc. lowered its position in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,317,699 shares of the financial services provider's stock after selling 16,655 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 1.67% of CVB Financial worth $42,785,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CVBF. Capital Research Global Investors bought a new stake in CVB Financial during the fourth quarter valued at $94,382,000. Parallel Advisors LLC boosted its position in CVB Financial by 29.7% during the first quarter. Parallel Advisors LLC now owns 3,822,248 shares of the financial services provider's stock valued at $70,559,000 after acquiring an additional 874,631 shares during the last quarter. Wellington Management Group LLP boosted its position in CVB Financial by 99.6% during the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock valued at $20,755,000 after acquiring an additional 483,844 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in CVB Financial by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider's stock valued at $124,752,000 after acquiring an additional 400,670 shares during the last quarter. Finally, Nuveen LLC bought a new stake in CVB Financial during the first quarter valued at $6,932,000. Institutional investors own 74.18% of the company's stock.

CVB Financial Stock Performance

CVB Financial stock traded up $1.02 during mid-day trading on Friday, reaching $20.27. The company's stock had a trading volume of 979,195 shares, compared to its average volume of 656,660. The firm's fifty day moving average price is $19.71 and its two-hundred day moving average price is $19.18. The company 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 12-month low of $16.01 and a 12-month high of $24.58.

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

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.80 annualized dividend and a yield of 3.9%. CVB Financial's payout ratio is presently 55.17%.

Insider Buying and Selling

In other news, Director George A. Borba, Jr. bought 53,567 shares of the company's stock in a transaction dated Monday, August 4th. The shares were purchased at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the completion of the purchase, the director owned 718,688 shares in the company, valued at approximately $13,417,904.96. This represents a 8.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVBF. Keefe, Bruyette & Woods cut their price target on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Piper Sandler increased their price objective on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.