Entropy Technologies LP Acquires New Holdings in CVB Financial Corporation $CVBF

Entropy Technologies LP bought a new position in shares of CVB Financial Corporation (NASDAQ:CVBF) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 34,864 shares of the financial services provider’s stock, valued at approximately $676,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd increased its position in CVB Financial by 8,940.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,967 shares during the period. Kestra Advisory Services LLC bought a new position in shares of CVB Financial during the fourth quarter valued at $42,000. Larson Financial Group LLC lifted its holdings in shares of CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares during the period. Osterweis Capital Management Inc. acquired a new position in shares of CVB Financial during the second quarter worth $103,000. Finally, KBC Group NV grew its stake in shares of CVB Financial by 46.2% in the first quarter. KBC Group NV now owns 5,684 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,797 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVBF. Piper Sandler increased their price objective on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Monday. Stephens lifted their target price on CVB Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Wednesday, July 1st. DA Davidson increased their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

CVB Financial Stock Up 0.1%

Shares of NASDAQ CVBF opened at $22.83 on Thursday. The company’s 50 day moving average price is $21.65 and its 200-day moving average price is $20.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.77. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $23.36. The company has a market capitalization of $4.03 billion, a P/E ratio of 15.74 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. During the same quarter last year, the company earned $0.36 earnings per share. Equities analysts forecast that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. CVB Financial’s dividend payout ratio is 55.17%.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. purchased 25,187 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $19.85 per share, for a total transaction of $499,961.95. Following the acquisition, the director owned 846,308 shares in the company, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brien Raymond V. O. III acquired 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of $22.77 per share, with a total value of $455,400.00. Following the completion of the transaction, the director owned 85,780 shares in the company, valued at approximately $1,953,210.60. This represents a 30.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 95,429 shares of company stock worth $1,955,178 in the last ninety days. Insiders own 6.40% of the company’s stock.

CVB Financial Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.