US Bancorp DE Purchases 18,249 Shares of CVB Financial Corporation (NASDAQ:CVBF)

US Bancorp DE boosted its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 69.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,634 shares of the financial services provider's stock after buying an additional 18,249 shares during the period. US Bancorp DE's holdings in CVB Financial were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in CVB Financial by 815.6% during the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after buying an additional 3,719 shares during the period. Blue Trust Inc. raised its position in CVB Financial by 58.8% during the first quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider's stock valued at $83,000 after buying an additional 1,655 shares during the period. KBC Group NV raised its position in CVB Financial by 20.4% during the first quarter. KBC Group NV now owns 7,231 shares of the financial services provider's stock valued at $133,000 after buying an additional 1,226 shares during the period. Knightsbridge Asset Management LLC acquired a new position in CVB Financial during the fourth quarter valued at $204,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in CVB Financial during the fourth quarter valued at $215,000. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Trading Down 0.9%

CVBF stock traded down $0.18 during mid-day trading on Thursday, hitting $19.64. The stock had a trading volume of 200,132 shares, compared to its average volume of 794,107. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 13.54 and a beta of 0.69. The company has a fifty day moving average of $19.64 and a 200 day moving average of $19.26. 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 issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The business 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 in the prior year, the firm posted $0.36 EPS. As a group, sell-side analysts expect that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced 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 was Thursday, July 10th. This represents a $0.80 annualized dividend and a yield of 4.1%. CVB Financial's dividend payout ratio is presently 55.17%.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. bought 53,567 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the purchase, the director directly owned 718,688 shares in the company, valued at $13,417,904.96. This trade represents a 8.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CVBF has been the topic of several research reports. Piper Sandler upped their target price on CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods dropped their target price on CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th.

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.