Rhumbline Advisers Sells 14,557 Shares of CVB Financial Corporation $CVBF

Key Points

• Rhumbline Advisers has reduced its holdings in CVB Financial Corporation by 3.6%, now owning 394,780 shares valued at approximately $7.29 million.
• CVB Financial recently reported earnings per share (EPS) of $0.36, beating analysts' expectations, with revenue totaling $126.35 million during the quarter.
• CVB Financial announced a quarterly dividend of $0.20, representing an annualized yield of 3.9% and a payout ratio of 55.17%.

Rhumbline Advisers lowered its holdings in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 394,780 shares of the financial services provider's stock after selling 14,557 shares during the period. Rhumbline Advisers owned approximately 0.29% of CVB Financial worth $7,288,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AlphaQuest LLC purchased a new stake in shares of CVB Financial in the first quarter valued at $27,000. Brooklyn Investment Group lifted its holdings in shares of CVB Financial by 240,700.0% in the first quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 2,407 shares in the last quarter. Quarry LP raised its holdings in shares of CVB Financial by 877.3% during the first quarter. Quarry LP now owns 3,010 shares of the financial services provider's stock worth $56,000 after acquiring an additional 2,702 shares in the last quarter. Blue Trust Inc. boosted 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 purchasing an additional 1,655 shares during the last quarter. Finally, KBC Group NV grew its stake 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 valued at $133,000 after purchasing an additional 1,226 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company's stock.

CVB Financial Trading Down 0.4%

NASDAQ:CVBF traded down $0.09 during mid-day trading on Monday, hitting $20.01. 1,199,829 shares of the company's stock traded hands, compared to its average volume of 774,598. The firm has a 50 day moving average of $19.93 and a two-hundred day moving average of $19.17. CVB Financial Corporation has a 12 month low of $16.01 and a 12 month high of $24.58. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.80 and a beta of 0.71.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share 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 firm had revenue of $126.35 million during the quarter, compared to the consensus estimate of $127.95 million. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, equities research analysts expect that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Thursday, July 10th. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Insider Activity

In related news, Director Anna Kan sold 11,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total value of $223,850.00. Following the completion of the sale, the director owned 31,593 shares in the company, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George A. Borba, Jr. bought 53,567 shares of CVB Financial stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average price of $18.67 per share, with a total value of $1,000,095.89. Following the purchase, the director owned 718,688 shares of the company's stock, valued at $13,417,904.96. This trade represents a 8.05% increase in their position. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVBF. Keefe, Bruyette & Woods reduced their price target on 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 target price 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 equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.