CVB Financial Corporation $CVBF Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its position in CVB Financial Corporation (NASDAQ:CVBF) by 138.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,747 shares of the financial services provider’s stock after buying an additional 21,926 shares during the period. Sei Investments Co.’s holdings in CVB Financial were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVBF. Aster Capital Management DIFC Ltd boosted its stake in CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in CVB Financial in the fourth quarter worth about $42,000. Larson Financial Group LLC raised its position in CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 1,791 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in CVB Financial in the 2nd quarter valued at about $103,000. Finally, KBC Group NV lifted its holdings in CVB Financial by 46.2% in the 1st quarter. KBC Group NV now owns 5,684 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,797 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. acquired 25,187 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $19.85 per share, with a total value of $499,961.95. Following the purchase, the director owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. This trade represents a 3.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brien Raymond V. O. III bought 20,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the purchase, the director owned 85,780 shares in the company, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.40% of the stock is currently owned by insiders.

CVB Financial Trading Up 0.7%

NASDAQ:CVBF opened at $23.16 on Friday. The stock has a fifty day simple moving average of $22.19 and a 200 day simple moving average of $20.75. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 15.97 and a beta of 0.65. CVB Financial Corporation has a 1-year low of $17.94 and a 1-year high of $23.36. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $184.62 million. During the same quarter in the previous year, the firm posted $0.36 EPS. Sell-side analysts forecast that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVBF. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Thursday, August 6th. DA Davidson increased their target price on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Piper Sandler raised their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

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.