22,146 Shares in CVB Financial Corporation (CVBF) Acquired by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC bought a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 22,146 shares of the financial services provider’s stock, valued at approximately $497,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of CVBF. Bank of Montreal Can boosted its holdings in CVB Financial Corporation by 1.0% in the second quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 85 shares in the last quarter. Gamble Jones Investment Counsel boosted its holdings in CVB Financial Corporation by 0.6% in the second quarter. Gamble Jones Investment Counsel now owns 53,660 shares of the financial services provider’s stock worth $1,204,000 after acquiring an additional 300 shares in the last quarter. Aperio Group LLC boosted its holdings in CVB Financial Corporation by 1.1% in the second quarter. Aperio Group LLC now owns 28,853 shares of the financial services provider’s stock worth $647,000 after acquiring an additional 328 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in CVB Financial Corporation by 1.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 22,980 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 410 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in CVB Financial Corporation by 3.2% in the second quarter. Amalgamated Bank now owns 14,125 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 438 shares in the last quarter. Institutional investors own 67.33% of the company’s stock.
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In other CVB Financial Corporation news, Director Anna Kan acquired 4,660 shares of the stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $100,190.00. Following the acquisition, the director now owns 17,660 shares in the company, valued at approximately $379,690. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 7.00% of the company’s stock.
Several brokerages have weighed in on CVBF. Zacks Investment Research raised CVB Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. ValuEngine raised CVB Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Wedbush reissued a “neutral” rating and issued a $22.00 price target on shares of CVB Financial Corporation in a report on Tuesday, June 27th. Piper Jaffray Companies reissued a “hold” rating on shares of CVB Financial Corporation in a report on Friday, October 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $23.00 price target on shares of CVB Financial Corporation in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.60.
Shares of CVB Financial Corporation (NASDAQ:CVBF) opened at 24.10 on Friday. The firm has a market cap of $2.65 billion, a P/E ratio of 23.96 and a beta of 1.57. CVB Financial Corporation has a one year low of $16.32 and a one year high of $25.25. The firm has a 50-day moving average price of $22.48 and a 200 day moving average price of $21.70.
CVB Financial Corporation (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. CVB Financial Corporation had a net margin of 35.60% and a return on equity of 11.00%. The business had revenue of $81.78 million during the quarter, compared to analyst estimates of $81.78 million. During the same period in the previous year, the business posted $0.23 earnings per share. On average, analysts forecast that CVB Financial Corporation will post $1.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Wednesday, October 4th were issued a $0.14 dividend. The ex-dividend date was Tuesday, October 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.32%. CVB Financial Corporation’s payout ratio is 53.85%.
About CVB Financial Corporation
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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