XTX Topco Ltd acquired a new stake in CVB Financial Corporation (NASDAQ:CVBF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,095 shares of the financial services provider's stock, valued at approximately $611,000.
Several other hedge funds and other institutional investors have also made changes to their positions in CVBF. Capital Research Global Investors purchased a new position in shares of CVB Financial in the fourth quarter valued at approximately $94,382,000. Parallel Advisors LLC boosted its stake in shares of CVB Financial by 29.7% in 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 purchasing an additional 874,631 shares during the period. Wellington Management Group LLP boosted its stake in shares of CVB Financial by 99.6% in 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 purchasing an additional 483,844 shares during the period. Victory Capital Management Inc. boosted its stake in shares of CVB Financial by 21.4% in the first quarter. Victory Capital Management Inc. now owns 1,806,879 shares of the financial services provider's stock valued at $33,355,000 after purchasing an additional 318,882 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in CVB Financial by 15.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider's stock worth $49,979,000 after acquiring an additional 317,418 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company's stock.
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.
Analyst Ratings Changes
A number of brokerages recently issued reports on CVBF. Piper Sandler lifted their price target on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods decreased their price target on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, July 25th.
Check Out Our Latest Stock Report on CVB Financial
CVB Financial Stock Performance
CVBF traded down $0.18 during trading on Friday, hitting $18.85. The stock had a trading volume of 766,160 shares, compared to its average volume of 894,671. The firm has a market capitalization of $2.60 billion, a P/E ratio of 13.00 and a beta of 0.69. The company's 50-day moving average price is $19.58 and its 200 day moving average price is $19.28. CVB Financial Corporation has a twelve month low of $16.01 and a twelve month high of $24.58.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $126.35 million for the quarter, compared to analyst estimates 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 earned $0.36 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.20 dividend. The ex-dividend date was Thursday, July 10th. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. CVB Financial's payout ratio is currently 55.17%.
About CVB Financial
(
Free Report)
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.
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