Tower Research Capital LLC TRC increased its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 13,673.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,947 shares of the financial services provider’s stock after acquiring an additional 12,853 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CVB Financial were worth $273,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of CVB Financial by 6.7% in the second quarter. BlackRock Inc. now owns 17,150,254 shares of the financial services provider’s stock worth $360,668,000 after acquiring an additional 1,073,027 shares in the last quarter. Northern Trust Corp lifted its stake in shares of CVB Financial by 3.3% in the second quarter. Northern Trust Corp now owns 2,497,432 shares of the financial services provider’s stock worth $52,521,000 after acquiring an additional 78,717 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of CVB Financial by 1.5% in the first quarter. Champlain Investment Partners LLC now owns 2,229,415 shares of the financial services provider’s stock worth $46,929,000 after acquiring an additional 32,510 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CVB Financial by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 2,220,476 shares of the financial services provider’s stock worth $46,696,000 after acquiring an additional 43,418 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of CVB Financial by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 1,228,653 shares of the financial services provider’s stock worth $24,855,000 after acquiring an additional 96,179 shares in the last quarter. Institutional investors and hedge funds own 64.19% of the company’s stock.
Several research firms recently commented on CVBF. Janney Montgomery Scott cut CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Friday, July 19th. BidaskClub raised CVB Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 6th. ValuEngine raised CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research raised CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. CVB Financial currently has a consensus rating of “Hold” and a consensus price target of $23.33.
In related news, CEO Christopher D. Myers sold 4,600 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.04, for a total value of $101,384.00. Following the completion of the sale, the chief executive officer now directly owns 229,557 shares of the company’s stock, valued at $5,059,436.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by insiders.
CVB Financial stock traded up $0.04 during midday trading on Friday, hitting $21.67. The stock had a trading volume of 1,212,189 shares, compared to its average volume of 804,384. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.06 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.46 and a beta of 1.10. CVB Financial Corp. has a 12 month low of $19.21 and a 12 month high of $23.95. The business has a fifty day moving average price of $20.79 and a 200 day moving average price of $21.16.
CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The firm had revenue of $129.26 million during the quarter, compared to analyst estimates of $121.72 million. CVB Financial had a return on equity of 10.02% and a net margin of 37.43%. During the same period in the previous year, the company earned $0.32 earnings per share. On average, equities analysts anticipate that CVB Financial Corp. will post 1.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Wednesday, October 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, October 1st. CVB Financial’s dividend payout ratio is currently 58.06%.
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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