Vanguard Group Inc. Increases Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Vanguard Group Inc. raised its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,701,547 shares of the financial services provider’s stock after buying an additional 176,694 shares during the quarter. Vanguard Group Inc. owned 0.11% of CVB Financial worth $317,014,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in shares of CVB Financial by 104.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock worth $78,694,000 after purchasing an additional 1,994,369 shares during the last quarter. Woodward Diversified Capital LLC purchased a new position in shares of CVB Financial in the fourth quarter worth $392,000. Schroder Investment Management Group raised its stake in shares of CVB Financial by 12.5% in the fourth quarter. Schroder Investment Management Group now owns 863,044 shares of the financial services provider’s stock worth $17,425,000 after purchasing an additional 95,970 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of CVB Financial by 368.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock worth $14,559,000 after purchasing an additional 567,321 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of CVB Financial by 27.8% in the fourth quarter. Rafferty Asset Management LLC now owns 214,850 shares of the financial services provider’s stock worth $4,338,000 after purchasing an additional 46,692 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Insider Buying and Selling

In other CVB Financial news, Director George A. Borba, Jr. purchased 4,610 shares of the company’s stock in a transaction on Monday, June 17th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the purchase, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director George A. Borba, Jr. purchased 34,200 shares of CVB Financial stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $15.99 per share, for a total transaction of $546,858.00. Following the acquisition, the director now owns 660,511 shares in the company, valued at approximately $10,561,570.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George A. Borba, Jr. acquired 4,610 shares of the company’s stock in a transaction on Monday, June 17th. The shares were bought at an average cost of $16.00 per share, with a total value of $73,760.00. Following the acquisition, the director now directly owns 665,121 shares in the company, valued at $10,641,936. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 39,910 shares of company stock worth $638,669. 6.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a research note on Monday, April 22nd. Keefe, Bruyette & Woods reduced their price objective on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Stephens reiterated an “equal weight” rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, April 25th. Janney Montgomery Scott cut CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Wedbush reiterated a “neutral” rating and set a $19.00 price objective on shares of CVB Financial in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.00.

CVB Financial Trading Up 1.4 %

CVB Financial stock opened at $17.24 on Friday. CVB Financial Corp. has a 12-month low of $12.89 and a 12-month high of $21.77. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 11.34 and a beta of 0.46. The firm has a 50 day moving average of $16.68 and a 200 day moving average of $17.53.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The firm had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $127.46 million. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, analysts predict that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Thursday, July 11th. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.