CVB Financial Corporation (NASDAQ:CVBF) Stake Raised by Natixis Advisors LLC

Natixis Advisors LLC boosted its holdings in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 58.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 47,547 shares of the financial services provider's stock after buying an additional 17,476 shares during the period. Natixis Advisors LLC's holdings in CVB Financial were worth $878,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Illinois Municipal Retirement Fund raised its stake in shares of CVB Financial by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 71,615 shares of the financial services provider's stock valued at $1,322,000 after purchasing an additional 1,671 shares during the period. Principal Financial Group Inc. grew its position in shares of CVB Financial by 2.7% during the first quarter. Principal Financial Group Inc. now owns 654,007 shares of the financial services provider's stock worth $12,073,000 after buying an additional 17,205 shares in the last quarter. GAMMA Investing LLC grew its position in shares of CVB Financial by 1,845.6% during the first quarter. GAMMA Investing LLC now owns 93,777 shares of the financial services provider's stock worth $1,731,000 after buying an additional 88,957 shares in the last quarter. KBC Group NV boosted its holdings in CVB Financial by 20.4% in the first quarter. KBC Group NV now owns 7,231 shares of the financial services provider's stock worth $133,000 after purchasing an additional 1,226 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in CVB Financial by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 106,996 shares of the financial services provider's stock worth $1,975,000 after purchasing an additional 11,962 shares during the period. Hedge funds and other institutional investors own 74.18% of the company's stock.

CVB Financial Stock Performance

Shares of CVBF traded down $0.18 during midday trading on Thursday, hitting $19.64. 200,132 shares of the stock traded hands, compared to its average volume of 794,107. CVB Financial Corporation has a 1-year low of $16.01 and a 1-year high of $24.58. The firm has a market capitalization of $2.71 billion, a PE ratio of 13.54 and a beta of 0.69. The business's 50 day moving average price is $19.64 and its two-hundred day moving average price is $19.26.

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

CVB Financial Announces Dividend

The business 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Thursday, July 10th. CVB Financial's payout ratio is currently 55.17%.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. purchased 53,567 shares of the company's stock in a transaction on Monday, August 4th. The shares were purchased at an average cost of $18.67 per share, for a total transaction of $1,000,095.89. Following the completion of the transaction, the director owned 718,688 shares in the company, valued at $13,417,904.96. The trade was a 8.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVBF. Keefe, Bruyette & Woods decreased their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, July 25th. 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 report on Monday, July 28th.

CVB Financial Profile

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.