Ameriprise Financial Inc. Has $12.36 Million Holdings in CVB Financial Corporation (CVBF)
Ameriprise Financial Inc. grew its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 550,986 shares of the financial services provider’s stock after purchasing an additional 6,849 shares during the quarter. Ameriprise Financial Inc. owned about 0.50% of CVB Financial Corporation worth $12,358,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in CVB Financial Corporation by 48,056.5% during the 1st quarter. BlackRock Inc. now owns 12,385,851 shares of the financial services provider’s stock worth $273,605,000 after purchasing an additional 12,360,131 shares during the last quarter. Vanguard Group Inc. raised its holdings in CVB Financial Corporation by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 9,405,499 shares of the financial services provider’s stock worth $207,768,000 after purchasing an additional 498,140 shares during the last quarter. FMR LLC raised its holdings in CVB Financial Corporation by 0.6% during the 1st quarter. FMR LLC now owns 7,865,043 shares of the financial services provider’s stock worth $173,739,000 after purchasing an additional 43,133 shares during the last quarter. State Street Corp raised its holdings in CVB Financial Corporation by 17.8% during the 1st quarter. State Street Corp now owns 3,870,952 shares of the financial services provider’s stock worth $85,508,000 after purchasing an additional 586,205 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in CVB Financial Corporation by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,356,634 shares of the financial services provider’s stock worth $52,860,000 after purchasing an additional 63,017 shares during the last quarter. Hedge funds and other institutional investors own 67.33% of the company’s stock.
Shares of CVB Financial Corporation (CVBF) opened at 23.71 on Monday. The stock has a 50 day moving average of $21.70 and a 200 day moving average of $21.56. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 23.57 and a beta of 1.56. CVB Financial Corporation has a 1-year low of $16.32 and a 1-year high of $25.25.
CVB Financial Corporation (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. The company had revenue of $81.26 million during the quarter, compared to analyst estimates of $80.10 million. During the same quarter last year, the firm posted $0.23 earnings per share. Analysts predict that CVB Financial Corporation will post $1.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Wednesday, October 4th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, October 3rd. CVB Financial Corporation’s payout ratio is 56.00%.
Several research firms have recently weighed in on CVBF. Zacks Investment Research lowered shares of CVB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub upgraded shares of CVB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Piper Jaffray Companies reiterated a “hold” rating on shares of CVB Financial Corporation in a research note on Friday. Keefe, Bruyette & Woods set a $23.00 price objective on shares of CVB Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, July 4th. Finally, Wedbush reiterated a “neutral” rating and issued a $22.00 price objective on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. CVB Financial Corporation currently has an average rating of “Hold” and an average price target of $22.60.
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In other CVB Financial Corporation news, Director Anna Kan purchased 4,660 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was bought 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 directly owns 17,660 shares of the company’s stock, valued at approximately $379,690. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.00% of the company’s stock.
CVB Financial Corporation Company 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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