Ieq Capital LLC Takes Position in CVB Financial Corporation $CVBF

Ieq Capital LLC bought a new position in shares of CVB Financial Corporation (NASDAQ:CVBFFree Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 81,358 shares of the financial services provider’s stock, valued at approximately $1,835,000.

A number of other hedge funds also recently modified their holdings of CVBF. Aster Capital Management DIFC Ltd raised its holdings in shares of CVB Financial by 8,940.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of CVB Financial during the fourth quarter worth approximately $42,000. Larson Financial Group LLC boosted its stake in shares of CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,791 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of CVB Financial by 40.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after buying an additional 695 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new stake in CVB Financial during the second quarter worth approximately $103,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price for the company in a research note on Thursday, August 6th. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Wednesday, July 1st. Piper Sandler upped their price target on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. DA Davidson upped their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.25.

Read Our Latest Stock Report on CVB Financial

Insider Buying and Selling

In other CVB Financial news, COO David C. Harvey sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total value of $917,600.00. Following the completion of the sale, the chief operating officer directly owned 98,149 shares of the company’s stock, valued at $2,251,538.06. This trade represents a 28.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brien Raymond V. O. III bought 20,000 shares of CVB Financial stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average price of $22.77 per share, with a total value of $455,400.00. Following the purchase, the director directly owned 85,780 shares of the company’s stock, valued at approximately $1,953,210.60. This represents a 30.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.40% of the stock is owned by corporate insiders.

CVB Financial Stock Performance

Shares of CVBF stock opened at $22.39 on Wednesday. The stock has a market capitalization of $3.94 billion, a PE ratio of 15.44 and a beta of 0.65. The business’s 50 day simple moving average is $22.49 and its 200 day simple moving average is $20.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.77. CVB Financial Corporation has a one year low of $17.94 and a one year high of $23.41.

CVB Financial (NASDAQ:CVBFGet Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $184.62 million. During the same quarter last year, the firm posted $0.36 EPS. As a group, research analysts forecast that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. CVB Financial’s dividend payout ratio (DPR) is currently 55.17%.

CVB Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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