Vident Advisory LLC Acquires New Position in CVB Financial Corporation $CVBF

Key Points

• Vident Advisory LLC has acquired a new stake in CVB Financial Corporation by purchasing 194,707 shares valued at approximately $3.6 million, representing 0.14% ownership of the company.
• Shares of CVB Financial recently opened at $20.13, with a market capitalization of $2.77 billion and a PE ratio of 13.88, while the company's stock was down 0.4%.
• CVB Financial declared a quarterly dividend of $0.20, resulting in an annualized dividend yield of 4.0%, with a payout ratio currently at 55.17%.

Vident Advisory LLC bought a new stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 194,707 shares of the financial services provider's stock, valued at approximately $3,594,000. Vident Advisory LLC owned approximately 0.14% of CVB Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in CVB Financial by 29.7% in the 1st quarter. Parallel Advisors LLC now owns 3,822,248 shares of the financial services provider's stock worth $70,559,000 after buying an additional 874,631 shares during the period. Wellington Management Group LLP increased its position in CVB Financial by 99.6% during the 4th quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock valued at $20,755,000 after purchasing an additional 483,844 shares during the period. Dimensional Fund Advisors LP grew its position in shares of CVB Financial by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider's stock worth $124,752,000 after buying an additional 400,670 shares during the last quarter. Nuveen LLC bought a new position in shares of CVB Financial during the 1st quarter worth approximately $6,932,000. Finally, Victory Capital Management Inc. raised its stake in shares of CVB Financial by 21.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,806,879 shares of the financial services provider's stock worth $33,355,000 after acquiring an additional 318,882 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company's stock.

CVB Financial Stock Up 0.2%

CVBF stock traded up $0.03 during mid-day trading on Wednesday, hitting $19.93. 411,850 shares of the company were exchanged, compared to its average volume of 775,817. The firm has a market capitalization of $2.75 billion, a P/E ratio of 13.74 and a beta of 0.71. The business has a fifty day simple moving average of $19.95 and a 200-day simple moving average of $19.17. 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 results 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 return on equity of 9.21% and a net margin of 30.99%.The company had revenue of $126.35 million for the quarter, compared to analysts' expectations of $127.95 million. During the same period last year, the firm earned $0.36 earnings per share. Research analysts predict that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were given a dividend of $0.20 per share. 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 payout ratio is presently 55.17%.

Analysts Set New Price Targets

Several analysts have weighed in on CVBF shares. Keefe, Bruyette & Woods dropped 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 report on Friday, July 25th. Piper Sandler upped 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 issued a Hold rating to the stock. According to data from MarketBeat.com, CVB Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. bought 53,567 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was purchased 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. 6.10% of the stock is owned by corporate insiders.

CVB Financial Company 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.