19,600 Shares in CVB Financial Corp. (CVBF) Acquired by Mason Street Advisors LLC
Mason Street Advisors LLC purchased a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF) during the second quarter, Holdings Channel reports. The firm purchased 19,600 shares of the financial services provider’s stock, valued at approximately $321,000.
A number of other hedge funds have also bought and sold shares of CVBF. Vanguard Group Inc. raised its stake in CVB Financial Corp. by 6.9% in the second quarter. Vanguard Group Inc. now owns 8,095,253 shares of the financial services provider’s stock valued at $132,681,000 after buying an additional 524,198 shares during the last quarter. BTIM Corp. raised its stake in CVB Financial Corp. by 107.7% in the second quarter. BTIM Corp. now owns 996,479 shares of the financial services provider’s stock worth $16,332,000 after buying an additional 516,739 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in CVB Financial Corp. by 12.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 3,399,077 shares of the financial services provider’s stock worth $55,711,000 after buying an additional 379,760 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in CVB Financial Corp. by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,533,379 shares of the financial services provider’s stock worth $61,657,000 after buying an additional 352,730 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in CVB Financial Corp. by 55.6% in the first quarter. Panagora Asset Management Inc. now owns 447,746 shares of the financial services provider’s stock worth $7,813,000 after buying an additional 159,925 shares in the last quarter. Institutional investors and hedge funds own 65.43% of the company’s stock.
CVB Financial Corp. (NASDAQ:CVBF) opened at 17.84 on Friday. CVB Financial Corp. has a 1-year low of $14.02 and a 1-year high of $18.77. The company has a market capitalization of $1.93 billion, a P/E ratio of 18.22 and a beta of 1.56. The company has a 50-day moving average of $17.40 and a 200-day moving average of $17.02.
CVB Financial Corp. (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. CVB Financial Corp. had a net margin of 34.99% and a return on equity of 11.07%. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities analysts expect that CVB Financial Corp. will post $0.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 2.69%. CVB Financial Corp.’s dividend payout ratio is currently 48.98%.
A number of research firms have recently weighed in on CVBF. Zacks Investment Research upgraded shares of CVB Financial Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on shares of CVB Financial Corp. from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Tuesday, September 27th. DA Davidson reiterated a “hold” rating and set a $18.00 target price on shares of CVB Financial Corp. in a report on Monday, September 26th. Finally, Hovde Group began coverage on shares of CVB Financial Corp. in a report on Wednesday, June 22nd. They set a “market perform” rating and a $17.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.25.
In other news, CEO Christopher D. Myers sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $17.00, for a total value of $425,000.00. Following the sale, the chief executive officer now directly owns 355,052 shares in the company, valued at approximately $6,035,884. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David A. Brager sold 8,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $17.08, for a total transaction of $136,640.00. Following the completion of the sale, the executive vice president now owns 25,113 shares in the company, valued at $428,930.04. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.
About CVB Financial Corp.
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
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