CVB Financial Corp. (NASDAQ:CVBF) Shares Acquired by Citizens Business Bank

Citizens Business Bank boosted its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 65.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 849,805 shares of the financial services provider’s stock after buying an additional 335,501 shares during the period. CVB Financial makes up about 3.9% of Citizens Business Bank’s holdings, making the stock its 4th biggest position. Citizens Business Bank owned approximately 0.61% of CVB Financial worth $17,158,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CVBF. Strs Ohio purchased a new position in shares of CVB Financial during the 4th quarter valued at $36,000. GAMMA Investing LLC bought a new position in shares of CVB Financial in the 4th quarter valued at approximately $102,000. Headlands Technologies LLC acquired a new stake in CVB Financial in the 4th quarter worth approximately $122,000. Covestor Ltd boosted its position in CVB Financial by 11.2% during the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 885 shares during the period. Finally, Nwam LLC acquired a new position in CVB Financial during the third quarter valued at approximately $207,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. purchased 59,601 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the purchase, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CVB Financial news, Director George A. Borba, Jr. acquired 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the transaction, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David A. Brager purchased 2,000 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the purchase, the chief executive officer now owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The disclosure for this purchase can be found here. Insiders purchased 64,701 shares of company stock valued at $1,085,196 over the last three months. Company insiders own 6.00% of the company’s stock.

CVB Financial Price Performance

NASDAQ:CVBF traded down $0.12 during trading hours on Tuesday, hitting $16.34. The company’s stock had a trading volume of 957,444 shares, compared to its average volume of 901,821. The company has a market capitalization of $2.28 billion, a P/E ratio of 10.84 and a beta of 0.46. The stock has a fifty day simple moving average of $16.96 and a 200-day simple moving average of $17.72. CVB Financial Corp. has a twelve month low of $10.66 and a twelve month high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, equities analysts predict that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.90%. CVB Financial’s payout ratio is 52.63%.

Analyst Ratings Changes

Several research firms recently issued reports on CVBF. StockNews.com raised shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. Wedbush reiterated a “neutral” rating and set a $19.00 price target on shares of CVB Financial in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday. Stephens reiterated an “equal weight” rating and issued a $20.00 price objective on shares of CVB Financial in a research note on Thursday, April 25th. Finally, Hovde Group downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.00.

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.