BlackRock Inc. Has $277.69 Million Stake in CVB Financial Corporation (CVBF)
BlackRock Inc. lowered its stake in CVB Financial Corporation (NASDAQ:CVBF) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,380,354 shares of the financial services provider’s stock after selling 5,497 shares during the period. BlackRock Inc. owned approximately 11.24% of CVB Financial Corporation worth $277,692,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio boosted its holdings in CVB Financial Corporation by 12.5% during the 2nd quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 500 shares during the period. Cutler Capital Management LLC grew its position in CVB Financial Corporation by 10.3% during the 2nd quarter. Cutler Capital Management LLC now owns 6,000 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 558 shares during the last quarter. Riverhead Capital Management LLC grew its position in CVB Financial Corporation by 54.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 2,291 shares during the last quarter. Gradient Investments LLC grew its position in CVB Financial Corporation by 9.0% during the 2nd quarter. Gradient Investments LLC now owns 7,302 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 600 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in CVB Financial Corporation by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,384 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 1,107 shares during the last quarter. 67.33% of the stock is owned by institutional investors.
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A number of brokerages have commented on CVBF. Zacks Investment Research raised CVB Financial Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, June 28th. ValuEngine upgraded CVB Financial Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. BidaskClub raised CVB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Piper Jaffray Companies reissued a “hold” rating and set a $23.00 price objective on shares of CVB Financial Corporation in a research note on Friday, September 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $23.00 target price on shares of CVB Financial Corporation in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. CVB Financial Corporation has an average rating of “Hold” and a consensus price target of $22.60.
Shares of CVB Financial Corporation (NASDAQ:CVBF) opened at 24.19 on Wednesday. CVB Financial Corporation has a 12-month low of $16.32 and a 12-month high of $25.25. The stock’s 50 day moving average is $21.46 and its 200-day moving average is $21.53. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 24.05 and a beta of 1.57.
CVB Financial Corporation (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $81.26 million during the quarter, compared to the consensus estimate of $80.10 million. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. During the same period last year, the company earned $0.23 earnings per share. On average, analysts expect that CVB Financial Corporation will post $1.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Tuesday, October 3rd. CVB Financial Corporation’s dividend payout ratio (DPR) is 56.00%.
In other news, Director Anna Kan bought 4,660 shares of CVB Financial Corporation stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price of $21.50 per share, with a total value of $100,190.00. Following the completion of the purchase, the director now owns 17,660 shares in the company, valued at approximately $379,690. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.00% of the company’s stock.
CVB Financial Corporation Profile
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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