Soltis Investment Advisors LLC Makes New $249,000 Investment in CVB Financial Corporation $CVBF

Soltis Investment Advisors LLC bought a new stake in CVB Financial Corporation (NASDAQ:CVBF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,595 shares of the financial services provider’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC acquired a new position in shares of CVB Financial in the first quarter valued at approximately $27,000. Brooklyn Investment Group increased its position in CVB Financial by 240,700.0% in the 1st quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 2,407 shares during the period. Quarry LP increased its position in CVB Financial by 877.3% in the 1st quarter. Quarry LP now owns 3,010 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 2,702 shares during the period. GAMMA Investing LLC raised its stake in shares of CVB Financial by 13.5% during the second quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 685 shares during the last quarter. Finally, Maseco LLP acquired a new position in shares of CVB Financial during the second quarter worth $116,000. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Stock Up 0.1%

CVBF stock opened at $18.71 on Friday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 12.82 and a beta of 0.69. The company’s fifty day simple moving average is $19.22 and its 200 day simple moving average is $19.37. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $24.58.

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

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.80 annualized dividend and a yield of 4.3%. CVB Financial’s payout ratio is 54.79%.

Insider Activity

In other CVB Financial news, Director Anna Kan sold 11,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total transaction of $223,850.00. Following the transaction, the director directly owned 31,593 shares in the company, valued at approximately $642,917.55. This represents a 25.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

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

About CVB Financial

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.