Gradient Investments LLC increased its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,302 shares of the financial services provider’s stock after buying an additional 600 shares during the period. Gradient Investments LLC’s holdings in CVB Financial Corporation were worth $164,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of CVBF. BlackRock Inc. increased its stake in CVB Financial Corporation by 48,056.5% in the first quarter. BlackRock Inc. now owns 12,385,851 shares of the financial services provider’s stock valued at $273,605,000 after buying an additional 12,360,131 shares during the last quarter. Norges Bank acquired a new stake in CVB Financial Corporation during the fourth quarter valued at approximately $15,996,000. State Street Corp increased its stake in shares of CVB Financial Corporation by 17.8% in the first quarter. State Street Corp now owns 3,870,952 shares of the financial services provider’s stock worth $85,508,000 after buying an additional 586,205 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of CVB Financial Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 9,405,499 shares of the financial services provider’s stock worth $207,768,000 after buying an additional 498,140 shares during the last quarter. Finally, IronBridge Capital Management LP purchased a new stake in shares of CVB Financial Corporation during the first quarter worth about $6,434,000. 67.79% of the stock is owned by hedge funds and other institutional investors.
Shares of CVB Financial Corporation (NASDAQ:CVBF) opened at 21.27 on Thursday. The company’s 50 day moving average is $21.95 and its 200-day moving average is $22.03. CVB Financial Corporation has a 52 week low of $16.32 and a 52 week high of $24.63. The stock has a market capitalization of $2.34 billion, a PE ratio of 21.14 and a beta of 1.51.
CVB Financial Corporation (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. The business had revenue of $81.26 million for the quarter, compared to analysts’ expectations of $80.10 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, equities analysts predict that CVB Financial Corporation will post $1.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, July 6th were given a dividend of $0.14 per share. This is a boost from CVB Financial Corporation’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, July 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.63%. CVB Financial Corporation’s payout ratio is 56.00%.
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A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 price objective on shares of CVB Financial Corporation in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of CVB Financial Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of CVB Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of CVB Financial Corporation in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $21.50.
In other news, Director Anna Kan acquired 4,660 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average price of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the transaction, the director now directly owns 17,660 shares of the company’s stock, valued at approximately $379,690. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.80% of the company’s stock.
CVB Financial Corporation Company Profile
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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