Deutsche Bank AG purchased a new stake in shares of CVB Financial Corporation (NASDAQ:CVBF – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 177,404 shares of the financial services provider’s stock, valued at approximately $4,000,000.
Several other large investors have also made changes to their positions in the business. Aster Capital Management DIFC Ltd boosted its stake 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 worth $37,000 after acquiring an additional 1,967 shares during the period. Kestra Advisory Services LLC bought a new stake in CVB Financial during the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its stake in CVB Financial by 40.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 695 shares during the period. Larson Financial Group LLC lifted its holdings in CVB Financial by 288.9% in the 4th 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 in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in CVB Financial in the 2nd quarter worth approximately $103,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, COO David C. Harvey sold 40,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total value of $917,600.00. Following the sale, the chief operating officer owned 98,149 shares in the company, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brien Raymond V. O. III purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the purchase, the director owned 85,780 shares of the company’s stock, valued at $1,953,210.60. This represents a 30.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.40% of the stock is currently owned by corporate insiders.
CVB Financial Price Performance
CVB Financial (NASDAQ:CVBF – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities research analysts forecast that CVB Financial Corporation will post 1.72 earnings per share for the current fiscal year.
CVB Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, July 9th. CVB Financial’s dividend payout ratio is currently 55.17%.
Analyst Upgrades and Downgrades
CVBF has been the subject of several recent analyst reports. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target for the company in a research note on Thursday, August 6th. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. DA Davidson boosted their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Piper Sandler upped their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Raymond James Financial raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.25.
View Our Latest Stock Analysis on CVBF
CVB Financial Company 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.
Featured Articles
- Five stocks we like better than CVB Financial
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding CVBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVB Financial Corporation (NASDAQ:CVBF – Free Report).
Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.
