CVB Financial Corporation $CVBF Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in CVB Financial Corporation (NASDAQ:CVBF) by 49.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 427,694 shares of the financial services provider’s stock after buying an additional 141,202 shares during the period. Renaissance Technologies LLC’s holdings in CVB Financial were worth $8,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its position in shares of CVB Financial by 7.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 10,750 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 750 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of CVB Financial by 71.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider’s stock valued at $23,684,000 after acquiring an additional 507,228 shares in the last quarter. Sei Investments Co. lifted its stake in CVB Financial by 138.6% during the first quarter. Sei Investments Co. now owns 37,747 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 21,926 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CVB Financial by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock worth $147,620,000 after purchasing an additional 331,307 shares during the last quarter. Finally, KBC Group NV boosted its holdings in CVB Financial by 46.2% in the first quarter. KBC Group NV now owns 5,684 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,797 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

Insider Activity

In other news, Director Brien Raymond V. O. III acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average price of $22.77 per share, with a total value of $455,400.00. Following the acquisition, the director directly owned 85,780 shares in the company, valued at approximately $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George A. Borba, Jr. acquired 50,242 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $19.90 per share, for a total transaction of $999,815.80. Following the acquisition, the director owned 796,024 shares in the company, valued at approximately $15,840,877.60. This trade represents a 6.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 95,429 shares of company stock valued at $1,955,178 in the last 90 days. Insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CVBF. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Wednesday, July 1st. DA Davidson raised their price target on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Piper Sandler lifted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Stephens boosted their price objective on shares of CVB Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

CVB Financial Trading Up 2.2%

Shares of NASDAQ CVBF opened at $22.86 on Tuesday. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $23.36. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 15.77 and a beta of 0.65. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock’s 50 day simple moving average is $21.79 and its 200 day simple moving average is $20.59.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The company had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. Equities research analysts expect that CVB Financial Corporation will post 1.72 EPS for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. CVB Financial’s dividend payout ratio is currently 55.17%.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.