Champlain Investment Partners LLC lifted its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.5% during the 1st quarter, Holdings Channel reports. The firm owned 2,229,415 shares of the financial services provider’s stock after buying an additional 32,510 shares during the quarter. Champlain Investment Partners LLC’s holdings in CVB Financial were worth $46,929,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CVBF. The Manufacturers Life Insurance Company raised its position in shares of CVB Financial by 8.6% during the first quarter. The Manufacturers Life Insurance Company now owns 71,551 shares of the financial services provider’s stock worth $1,506,000 after purchasing an additional 5,639 shares during the period. Northern Trust Corp raised its position in CVB Financial by 0.3% in the 1st quarter. Northern Trust Corp now owns 2,418,715 shares of the financial services provider’s stock valued at $50,914,000 after buying an additional 7,099 shares during the last quarter. Commonwealth Equity Services LLC raised its position in CVB Financial by 2.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 104,343 shares of the financial services provider’s stock valued at $2,196,000 after buying an additional 2,057 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in CVB Financial in the 1st quarter valued at $229,000. Finally, AlphaCrest Capital Management LLC purchased a new stake in CVB Financial in the 1st quarter valued at $709,000. Institutional investors own 63.83% of the company’s stock.
In other news, Director Anna Kan sold 4,660 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $21.74, for a total transaction of $101,308.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher D. Myers sold 24,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $21.79, for a total value of $522,960.00. Following the sale, the chief executive officer now directly owns 300,157 shares of the company’s stock, valued at $6,540,421.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,660 shares of company stock valued at $3,228,758. Insiders own 5.50% of the company’s stock.
A number of research firms recently commented on CVBF. Zacks Investment Research raised CVB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. FIG Partners lowered CVB Financial from an “outperform” rating to a “market-perform” rating in a research report on Thursday, April 25th. Finally, BidaskClub lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. CVB Financial currently has an average rating of “Hold” and a consensus price target of $24.90.
Shares of CVB Financial stock opened at $21.21 on Thursday. CVB Financial Corp. has a 1 year low of $19.21 and a 1 year high of $24.97. The firm has a market cap of $2.99 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01.
CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. CVB Financial had a return on equity of 10.16% and a net margin of 37.39%. The firm had revenue of $125.84 million during the quarter, compared to analyst estimates of $121.24 million. During the same period last year, the firm posted $0.32 EPS. Equities analysts expect that CVB Financial Corp. will post 1.48 earnings per share for the current fiscal year.
About CVB Financial
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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