Chicago Equity Partners LLC acquired a new position in CVB Financial Corp. (NASDAQ:CVBF) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 96,670 shares of the financial services provider’s stock, valued at approximately $2,135,000. Chicago Equity Partners LLC owned 0.09% of CVB Financial Corp. at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Cutler Capital Management LLC acquired a new position in shares of CVB Financial Corp. during the first quarter worth approximately $120,000. Bank of Montreal Can increased its position in shares of CVB Financial Corp. by 8.6% in the first quarter. Bank of Montreal Can now owns 8,161 shares of the financial services provider’s stock worth $180,000 after buying an additional 649 shares during the period. Stevens Capital Management LP acquired a new position in shares of CVB Financial Corp. during the third quarter worth approximately $240,000. State of Alaska Department of Revenue increased its position in shares of CVB Financial Corp. by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 11,180 shares of the financial services provider’s stock worth $246,000 after buying an additional 310 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of CVB Financial Corp. during the fourth quarter worth approximately $251,000. 66.76% of the stock is owned by institutional investors.
CVB Financial Corp. (NASDAQ:CVBF) traded up 0.54% during trading on Friday, hitting $20.64. The company had a trading volume of 295,853 shares. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 21.06 and a beta of 1.47. The firm’s 50 day moving average is $21.40 and its 200-day moving average is $21.90. CVB Financial Corp. has a 52-week low of $15.25 and a 52-week high of $24.63.
CVB Financial Corp. (NASDAQ:CVBF) last issued its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. CVB Financial Corp. had a net margin of 33.74% and a return on equity of 10.25%. The business had revenue of $74.16 million for the quarter, compared to analyst estimates of $77.30 million. During the same period in the previous year, the business posted $0.22 earnings per share. On average, equities analysts forecast that CVB Financial Corp. will post $1.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 19th. Stockholders of record on Wednesday, April 5th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, April 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.34%. CVB Financial Corp.’s dividend payout ratio (DPR) is 51.61%.
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CVBF has been the topic of a number of recent analyst reports. Zacks Investment Research raised CVB Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, March 21st. Piper Jaffray Companies reduced their price target on CVB Financial Corp. from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. Finally, Hovde Group raised CVB Financial Corp. from an “underperform” rating to a “market perform” rating and set a $21.00 price target on the stock in a research report on Friday. Five investment analysts have rated the stock with a hold rating, CVB Financial Corp. has an average rating of “Hold” and a consensus price target of $20.80.
In related news, Director Guercio Stephen A. Del sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $23.48, for a total transaction of $70,440.00. Following the sale, the director now owns 19,000 shares of the company’s stock, valued at $446,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David A. Brager sold 2,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $22.13, for a total transaction of $44,260.00. Following the sale, the executive vice president now directly owns 43,013 shares in the company, valued at approximately $951,877.69. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
About CVB Financial Corp.
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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