Bessemer Group Inc. Has $20.72 Million Stock Holdings in CVB Financial Corporation $CVBF

Bessemer Group Inc. raised its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,095,694 shares of the financial services provider’s stock after purchasing an additional 249,490 shares during the quarter. Bessemer Group Inc. owned 0.80% of CVB Financial worth $20,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of CVB Financial in the 2nd quarter worth approximately $28,320,000. QRG Capital Management Inc. boosted its stake in CVB Financial by 7.4% in the second quarter. QRG Capital Management Inc. now owns 11,030 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 763 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of CVB Financial by 9.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,699,972 shares of the financial services provider’s stock worth $32,146,000 after purchasing an additional 140,721 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new position in shares of CVB Financial in the second quarter valued at about $405,000. Finally, Edgestream Partners L.P. acquired a new position in CVB Financial during the 2nd quarter worth about $3,598,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Up 2.2%

Shares of CVB Financial stock opened at $21.43 on Friday. The business has a fifty day simple moving average of $19.73 and a 200 day simple moving average of $19.44. The stock has a market cap of $2.93 billion, a PE ratio of 14.29 and a beta of 0.68. CVB Financial Corporation has a 12 month low of $16.01 and a 12 month high of $21.47.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $133.85 million for the quarter, compared to analyst estimates of $135.45 million. CVB Financial had a return on equity of 9.30% and a net margin of 32.28%.During the same quarter in the prior year, the firm posted $0.36 earnings per share. Analysts expect that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $0.80 annualized dividend and a yield of 3.7%. CVB Financial’s dividend payout ratio (DPR) is presently 53.33%.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. bought 27,094 shares of the stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $18.45 per share, with a total value of $499,884.30. Following the completion of the purchase, the director owned 745,782 shares of the company’s stock, valued at approximately $13,759,677.90. This trade represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CVBF shares. Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Finally, DA Davidson boosted their target price on CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, CVB Financial presently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

CVB Financial 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.