CVB Financial Corporation $CVBF Stock Position Cut by Whittier Trust Co.

Whittier Trust Co. lessened its stake in CVB Financial Corporation (NASDAQ:CVBF) by 28.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,550 shares of the financial services provider’s stock after selling 1,420 shares during the period. Whittier Trust Co.’s holdings in CVB Financial were worth $70,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its position in CVB Financial by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 71,615 shares of the financial services provider’s stock valued at $1,322,000 after buying an additional 1,671 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in CVB Financial by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 654,007 shares of the financial services provider’s stock valued at $12,073,000 after acquiring an additional 17,205 shares during the last quarter. Natixis Advisors LLC lifted its holdings in CVB Financial by 58.1% in the 1st quarter. Natixis Advisors LLC now owns 47,547 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 17,476 shares during the last quarter. KBC Group NV lifted its holdings in CVB Financial by 20.4% in the 1st quarter. KBC Group NV now owns 7,231 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,226 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in CVB Financial by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 106,996 shares of the financial services provider’s stock valued at $1,975,000 after acquiring an additional 11,962 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CVBF shares. Keefe, Bruyette & Woods cut their price target on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, July 25th. Piper Sandler upped their price target on shares of CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Insider Transactions at CVB Financial

In other news, Director Anna Kan sold 11,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total value of $223,850.00. Following the transaction, the director owned 31,593 shares in the company, valued at $642,917.55. This represents a 25.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Borba, Jr. bought 53,567 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was acquired at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the acquisition, the director directly owned 718,688 shares in the company, valued at $13,417,904.96. This trade represents a 8.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.10% of the stock is owned by corporate insiders.

CVB Financial Trading Up 2.3%

CVBF stock opened at $19.07 on Friday. CVB Financial Corporation has a one year low of $16.01 and a one year high of $24.58. The firm has a market capitalization of $2.63 billion, a PE ratio of 13.06 and a beta of 0.67. The firm has a 50-day moving average of $19.46 and a two-hundred day moving average of $19.26.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. The company had revenue of $128.58 million during the quarter, compared to analyst estimates of $131.10 million. On average, equities research analysts anticipate that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Wednesday, October 1st were issued a $0.20 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.2%. CVB Financial’s dividend payout ratio is currently 54.79%.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.