WINTON GROUP Ltd Takes Position in CVB Financial Corporation $CVBF

WINTON GROUP Ltd purchased a new position in shares of CVB Financial Corporation (NASDAQ:CVBFFree Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 217,295 shares of the financial services provider’s stock, valued at approximately $4,900,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in CVB Financial during the second quarter valued at about $579,285,000. Dimensional Fund Advisors LP raised its position in shares of CVB Financial by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock valued at $147,620,000 after purchasing an additional 331,307 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CVB Financial by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock valued at $102,092,000 after buying an additional 67,563 shares in the last quarter. California State Teachers Retirement System raised its holdings in CVB Financial by 2,558.5% during the 2nd quarter. California State Teachers Retirement System now owns 4,328,382 shares of the financial services provider’s stock valued at $97,605,000 after acquiring an additional 4,165,566 shares during the period. Finally, HoldCo Asset Management LP boosted its holdings in shares of CVB Financial by 17,051.0% in the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after acquiring an additional 2,211,005 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Piper Sandler increased their price objective on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Stephens raised CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Thursday, August 6th. Finally, DA Davidson boosted their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.

Read Our Latest Report on CVBF

Insider Transactions at CVB Financial

In related news, COO David C. Harvey sold 40,000 shares of the business’s stock in a transaction that occurred 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 owned 98,149 shares in the company, valued at $2,251,538.06. The trade was a 28.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mike Maddox bought 10,000 shares of the business’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $22.03 per share, with a total value of $220,300.00. Following the purchase, the director owned 13,138 shares of the company’s stock, valued at $289,430.14. This represents a 318.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 6.40% of the company’s stock.

CVB Financial Stock Performance

CVB Financial stock opened at $22.39 on Friday. The firm’s fifty day moving average price is $22.59 and its 200-day moving average price is $21.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $3.94 billion, a P/E ratio of 15.44 and a beta of 0.64. CVB Financial Corporation has a fifty-two week low of $17.94 and a fifty-two week high of $23.41.

CVB Financial (NASDAQ:CVBFGet Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $179.43 million during the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same quarter last year, the firm posted $0.36 earnings per share. On average, equities research analysts expect that CVB Financial Corporation will post 1.74 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 annualized dividend and a yield of 3.6%. CVB Financial’s payout ratio is 55.17%.

CVB Financial Company 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.

See Also

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

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