BlackRock Inc. increased its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,077,227 shares of the financial services provider’s stock after purchasing an additional 236,747 shares during the period. BlackRock Inc. owned approximately 11.48% of CVB Financial worth $338,424,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CVBF. Toronto Dominion Bank purchased a new position in shares of CVB Financial during the 4th quarter worth about $35,000. Oregon Public Employees Retirement Fund purchased a new position in shares of CVB Financial during the 4th quarter worth about $39,000. Ellis Investment Partners LLC purchased a new position in shares of CVB Financial during the 1st quarter worth about $56,000. PNC Financial Services Group Inc. boosted its stake in shares of CVB Financial by 21.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 601 shares during the period. Finally, Strs Ohio boosted its stake in shares of CVB Financial by 144.0% during the 4th quarter. Strs Ohio now owns 6,100 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 3,600 shares during the period. 63.83% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Christopher D. Myers sold 53,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $21.71, for a total value of $1,150,630.00. Following the completion of the sale, the chief executive officer now owns 295,200 shares of the company’s stock, valued at approximately $6,408,792. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher D. Myers sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $21.79, for a total transaction of $522,960.00. Following the completion of the sale, the chief executive officer now directly owns 300,157 shares of the company’s stock, valued at approximately $6,540,421.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,660 shares of company stock valued at $3,228,758. 5.50% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on CVBF shares. BidaskClub cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Zacks Investment Research cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Finally, FIG Partners cut shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. CVB Financial has a consensus rating of “Hold” and a consensus price target of $24.90.
CVB Financial stock opened at $21.21 on Thursday. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.50 and a beta of 1.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.85 and a quick ratio of 0.85. CVB Financial Corp. has a 1 year low of $19.21 and a 1 year high of $24.97.
CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. The company had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $121.24 million. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. During the same period in the previous year, the company earned $0.32 EPS. As a group, research analysts expect that CVB Financial Corp. will post 1.48 earnings per share for the current fiscal year.
CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. 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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