GSA Capital Partners LLP Acquires Shares of 22,622 CVB Financial Corporation $CVBF

GSA Capital Partners LLP bought a new position in CVB Financial Corporation (NASDAQ:CVBF) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,622 shares of the financial services provider’s stock, valued at approximately $510,000.

A number of other large investors have also modified their holdings of CVBF. ProShare Advisors LLC lifted its holdings in CVB Financial by 2.1% in the 4th quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider’s stock worth $472,000 after buying an additional 521 shares in the last quarter. CWM LLC boosted its stake in shares of CVB Financial by 6.3% during the 4th quarter. CWM LLC now owns 10,445 shares of the financial services provider’s stock valued at $194,000 after buying an additional 620 shares during the last quarter. Savant Capital LLC grew its position in shares of CVB Financial by 6.1% during the fourth quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider’s stock worth $211,000 after buying an additional 653 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after buying an additional 695 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in shares of CVB Financial by 1.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 67,931 shares of the financial services provider’s stock worth $1,264,000 after buying an additional 742 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Performance

CVB Financial stock opened at $22.57 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17. CVB Financial Corporation has a 1 year low of $17.94 and a 1 year high of $23.41. The company has a market cap of $3.97 billion, a PE ratio of 15.57 and a beta of 0.65. The company’s 50-day moving average is $22.44 and its two-hundred day moving average is $20.88.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, July 23rd. 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 analyst estimates of $184.62 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities analysts anticipate that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

CVBF has been the topic of several recent analyst reports. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a report on Thursday, August 6th. 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. DA Davidson boosted their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research report on Wednesday, July 1st. Finally, Piper Sandler lifted their price target on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Insider Activity at CVB Financial

In other news, Director Brien Raymond V. O. III purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the transaction, the director owned 85,780 shares of the company’s stock, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO David C. Harvey sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total value of $917,600.00. Following the completion of the sale, the chief operating officer directly owned 98,149 shares of the company’s stock, valued at $2,251,538.06. This trade represents a 28.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.40% of the stock is owned by company insiders.

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.