Loomis Sayles & Co. L P trimmed its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 2.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 745,872 shares of the financial services provider’s stock after selling 15,062 shares during the quarter. Loomis Sayles & Co. L P owned 0.68% of CVB Financial worth $16,648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in CVB Financial during the 3rd quarter valued at $118,000. GSA Capital Partners LLP bought a new stake in CVB Financial during the 2nd quarter valued at $204,000. OppenheimerFunds Inc. bought a new stake in CVB Financial during the 2nd quarter valued at $217,000. TradeLink Capital LLC bought a new stake in CVB Financial during the 2nd quarter valued at $224,000. Finally, AMP Capital Investors Ltd bought a new stake in CVB Financial during the 2nd quarter valued at $305,000. Hedge funds and other institutional investors own 62.57% of the company’s stock.
NASDAQ:CVBF opened at $21.71 on Friday. CVB Financial Corp. has a 52 week low of $19.50 and a 52 week high of $25.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $3.05 billion, a P/E ratio of 17.80, a PEG ratio of 1.80 and a beta of 1.21.
CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). CVB Financial had a return on equity of 11.11% and a net margin of 34.92%. The company had revenue of $103.43 million during the quarter, compared to the consensus estimate of $102.47 million. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts expect that CVB Financial Corp. will post 1.27 EPS for the current fiscal year.
In other CVB Financial news, EVP Yamynn Deangelis sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $22.43, for a total value of $224,300.00. Following the completion of the transaction, the executive vice president now directly owns 69,003 shares in the company, valued at approximately $1,547,737.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is currently owned by corporate insiders.
CVBF has been the subject of a number of recent analyst reports. BidaskClub lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 25th. Zacks Investment Research upgraded shares of CVB Financial from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, September 18th. ValuEngine lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. FIG Partners upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating in a report on Thursday, October 25th. Finally, Piper Jaffray Companies set a $23.00 price target on shares of CVB Financial and gave the company a “hold” rating in a report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. CVB Financial currently has an average rating of “Hold” and a consensus target price of $25.10.
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CVB Financial Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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