CVB Financial Corp. (CVBF) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC reduced its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 25.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,845 shares of the financial services provider’s stock after selling 6,305 shares during the period. SG Americas Securities LLC’s holdings in CVB Financial were worth $397,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Legal & General Group Plc raised its holdings in shares of CVB Financial by 10.3% in the third quarter. Legal & General Group Plc now owns 245,405 shares of the financial services provider’s stock valued at $5,476,000 after purchasing an additional 22,945 shares during the last quarter. Morgan Stanley raised its holdings in shares of CVB Financial by 86.8% in the third quarter. Morgan Stanley now owns 586,790 shares of the financial services provider’s stock valued at $13,098,000 after purchasing an additional 272,606 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of CVB Financial by 8.9% in the fourth quarter. Bank of Montreal Can now owns 9,789 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 797 shares during the last quarter. Strs Ohio raised its holdings in shares of CVB Financial by 144.0% in the fourth quarter. Strs Ohio now owns 6,100 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CVB Financial by 13.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,115 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 961 shares during the last quarter. 63.83% of the stock is currently owned by institutional investors.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. FIG Partners downgraded shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, April 25th. Finally, BidaskClub lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. CVB Financial has a consensus rating of “Hold” and an average target price of $24.90.
CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $121.24 million. During the same period in the prior year, the firm posted $0.32 earnings per share. On average, analysts anticipate that CVB Financial Corp. will post 1.48 earnings per share for the current year.
In related news, Director Anna Kan sold 4,660 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $21.74, for a total value of $101,308.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher D. Myers sold 53,000 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last three months, insiders sold 147,660 shares of company stock worth $3,228,758. Insiders own 5.50% of the company’s stock.
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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.
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