SG Americas Securities LLC Sells 39,500 Shares of CVB Financial Corporation $CVBF

SG Americas Securities LLC trimmed its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 76.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,345 shares of the financial services provider’s stock after selling 39,500 shares during the period. SG Americas Securities LLC’s holdings in CVB Financial were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. DGS Capital Management LLC purchased a new stake in CVB Financial in the fourth quarter worth approximately $251,000. Invesco Ltd. raised its stake in shares of CVB Financial by 35.2% during the fourth quarter. Invesco Ltd. now owns 532,352 shares of the financial services provider’s stock worth $9,902,000 after acquiring an additional 138,661 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of CVB Financial by 418.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 91,906 shares of the financial services provider’s stock worth $1,709,000 after acquiring an additional 74,169 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of CVB Financial by 26.1% in the 4th quarter. XTX Topco Ltd now owns 20,544 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 4,253 shares during the last quarter. Finally, VARCOV Co. bought a new stake in shares of CVB Financial in the 4th quarter worth approximately $991,000. Institutional investors own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

CVBF has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CVB Financial in a report on Wednesday. Raymond James Financial raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Wednesday, July 1st. Piper Sandler upped their price target on shares of CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $23.00 price objective on shares of CVB Financial in a research note on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.30.

CVB Financial Stock Performance

Shares of CVBF stock opened at $22.47 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73. CVB Financial Corporation has a fifty-two week low of $17.94 and a fifty-two week high of $23.33. The stock has a 50 day moving average price of $21.00 and a two-hundred day moving average price of $20.19. The company has a market capitalization of $3.97 billion, a P/E ratio of 14.78 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The firm had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Analysts expect that CVB Financial Corporation will post 1.63 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th will be paid a $0.20 dividend. The ex-dividend date is Thursday, July 9th. This represents a $0.80 annualized dividend and a yield of 3.6%. CVB Financial’s payout ratio is presently 52.63%.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. acquired 50,242 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the transaction, the director directly owned 796,024 shares in the company, valued at approximately $15,840,877.60. This trade represents a 6.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by company insiders.

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.