CVB Financial Corporation (CVBF) Position Increased by Teachers Advisors LLC
Teachers Advisors LLC increased its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 2.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 188,727 shares of the financial services provider’s stock after buying an additional 5,214 shares during the period. Teachers Advisors LLC owned approximately 0.17% of CVB Financial Corporation worth $4,169,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in CVB Financial Corporation during the fourth quarter worth approximately $15,996,000. Prudential Financial Inc. boosted its stake in shares of CVB Financial Corporation by 1.2% in the first quarter. Prudential Financial Inc. now owns 173,573 shares of the financial services provider’s stock valued at $3,834,000 after buying an additional 2,110 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of CVB Financial Corporation during the first quarter valued at about $747,000. Comerica Bank boosted its stake in shares of CVB Financial Corporation by 3.4% in the first quarter. Comerica Bank now owns 144,088 shares of the financial services provider’s stock valued at $3,174,000 after buying an additional 4,800 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in shares of CVB Financial Corporation during the first quarter valued at about $2,135,000. 67.79% of the stock is currently owned by institutional investors.
Shares of CVB Financial Corporation (NASDAQ:CVBF) opened at 21.44 on Tuesday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 21.31 and a beta of 1.51. The company’s 50 day moving average is $22.08 and its 200-day moving average is $22.07. CVB Financial Corporation has a 1-year low of $16.19 and a 1-year high of $24.63.
CVB Financial Corporation (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $81.26 million for the quarter, compared to analyst estimates of $80.10 million. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. During the same period in the previous year, the company posted $0.23 EPS. Equities analysts anticipate that CVB Financial Corporation will post $1.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, July 6th were given a dividend of $0.14 per share. The ex-dividend date was Monday, July 3rd. This is a positive change from CVB Financial Corporation’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 2.61%. CVB Financial Corporation’s payout ratio is 56.00%.
Several brokerages have recently issued reports on CVBF. Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 price target on shares of CVB Financial Corporation in a research report on Friday. Zacks Investment Research cut shares of CVB Financial Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of CVB Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, Wedbush reissued a “neutral” rating and set a $22.00 price target 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 assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.50.
In related news, Director Anna Kan purchased 4,660 shares of CVB Financial Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $21.50 per share, with a total value of $100,190.00. Following the transaction, the director now owns 17,660 shares of the company’s stock, valued at approximately $379,690. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.80% of the company’s stock.
About CVB Financial Corporation
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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