CVB Financial Corporation (CVBF) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. increased its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 17.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,384 shares of the financial services provider’s stock after purchasing an additional 1,107 shares during the quarter. Victory Capital Management Inc.’s holdings in CVB Financial Corporation were worth $166,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CVBF. Bank of Montreal Can lifted its stake in CVB Financial Corporation by 8.6% during the first quarter. Bank of Montreal Can now owns 8,161 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 649 shares during the last quarter. Wells Fargo & Company MN lifted its stake in CVB Financial Corporation by 4.3% during the first quarter. Wells Fargo & Company MN now owns 120,253 shares of the financial services provider’s stock worth $2,656,000 after purchasing an additional 4,988 shares during the last quarter. Comerica Bank lifted its stake in CVB Financial Corporation by 3.4% during the first quarter. Comerica Bank now owns 144,088 shares of the financial services provider’s stock worth $3,174,000 after purchasing an additional 4,800 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in CVB Financial Corporation by 37.9% during the first quarter. UBS Asset Management Americas Inc. now owns 66,057 shares of the financial services provider’s stock worth $1,459,000 after purchasing an additional 18,153 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in CVB Financial Corporation during the first quarter worth $630,000. Hedge funds and other institutional investors own 67.33% of the company’s stock.
In related news, Director Anna Kan purchased 4,660 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average price of $21.50 per share, with a total value of $100,190.00. Following the purchase, the director now directly owns 17,660 shares in the company, valued at $379,690. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.00% of the stock is owned by insiders.
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Shares of CVB Financial Corporation (CVBF) opened at 22.56 on Friday. The firm has a 50-day moving average price of $20.91 and a 200-day moving average price of $21.54. CVB Financial Corporation has a 1-year low of $16.32 and a 1-year high of $24.63. The company has a market capitalization of $2.49 billion, a PE ratio of 22.43 and a beta of 1.53.
CVB Financial Corporation (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ 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 quarter in the previous year, the firm earned $0.23 EPS. Equities analysts anticipate that CVB Financial Corporation will post $1.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Wednesday, October 4th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.48%. The ex-dividend date is Tuesday, October 3rd. CVB Financial Corporation’s dividend payout ratio is 56.00%.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded CVB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Piper Jaffray Companies restated a “hold” rating and set a $23.00 price objective on shares of CVB Financial Corporation in a research note on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $23.00 price objective on shares of CVB Financial Corporation in a research note on Friday, August 4th. Finally, BidaskClub cut CVB Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. CVB Financial Corporation presently has a consensus rating of “Hold” and a consensus price target of $21.83.
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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