BlackRock Inc. Grows Stake in CVB Financial Corp. (NASDAQ:CVBF)

BlackRock Inc. lifted its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,077,227 shares of the financial services provider’s stock after acquiring an additional 236,747 shares during the quarter. BlackRock Inc. owned 0.11% of CVB Financial worth $338,424,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of CVB Financial in the first quarter valued at about $1,107,000. Parametric Portfolio Associates LLC raised its position in shares of CVB Financial by 32.4% in the first quarter. Parametric Portfolio Associates LLC now owns 250,117 shares of the financial services provider’s stock valued at $5,265,000 after buying an additional 61,277 shares during the last quarter. First Trust Advisors LP raised its position in shares of CVB Financial by 4.3% in the first quarter. First Trust Advisors LP now owns 174,758 shares of the financial services provider’s stock valued at $3,679,000 after buying an additional 7,255 shares during the last quarter. Piedmont Investment Advisors Inc. raised its position in shares of CVB Financial by 6.1% in the first quarter. Piedmont Investment Advisors Inc. now owns 26,031 shares of the financial services provider’s stock valued at $548,000 after buying an additional 1,486 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of CVB Financial by 4.5% in the first quarter. Great West Life Assurance Co. Can now owns 139,590 shares of the financial services provider’s stock valued at $2,937,000 after buying an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 63.83% of the company’s stock.

In related news, CEO Christopher D. Myers sold 53,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $21.71, for a total transaction of $1,150,630.00. Following the completion of the sale, the chief executive officer now directly owns 295,200 shares in the company, valued at $6,408,792. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher D. Myers sold 24,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $21.79, for a total transaction of $522,960.00. Following the sale, the chief executive officer now owns 300,157 shares of the company’s stock, valued at $6,540,421.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,660 shares of company stock valued at $3,228,758. 5.50% of the stock is owned by company insiders.

A number of equities research analysts have recently commented on CVBF shares. BidaskClub upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. FIG Partners cut shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.90.

Shares of NASDAQ CVBF opened at $21.21 on Thursday. The stock has a market capitalization of $2.95 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.50 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01. CVB Financial Corp. has a 52 week low of $19.21 and a 52 week high of $24.97.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. The firm had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $121.24 million. During the same period last year, the business earned $0.32 earnings per share. As a group, equities research analysts predict that CVB Financial Corp. will post 1.48 EPS for the current fiscal year.

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CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

Read More: Preferred Stock

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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