Bessemer Group Inc. Acquires 372,732 Shares of CVB Financial Corporation $CVBF

Bessemer Group Inc. lifted its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 34.1% during the 1st quarter, HoldingsChannel reports. The fund owned 1,466,670 shares of the financial services provider’s stock after acquiring an additional 372,732 shares during the quarter. Bessemer Group Inc.’s holdings in CVB Financial were worth $28,439,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Aster Capital Management DIFC Ltd increased its position in CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,967 shares during the period. Kestra Advisory Services LLC bought a new stake in CVB Financial in the 4th quarter valued at about $42,000. Larson Financial Group LLC grew its position in shares of CVB Financial by 288.9% during the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of CVB Financial during the 2nd quarter worth approximately $103,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of CVB Financial during the 4th quarter worth approximately $127,000. 74.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted 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. Stephens reiterated an “equal weight” rating and issued a $23.00 price target on shares of CVB Financial in a research note on Tuesday, June 16th. Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Wednesday, July 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CVB Financial in a research note on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

CVB Financial Price Performance

CVB Financial stock opened at $22.82 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 52 week low of $17.94 and a 52 week high of $23.36. The stock has a market capitalization of $4.03 billion, a P/E ratio of 15.01 and a beta of 0.65. The stock has a fifty day moving average of $21.23 and a 200-day moving average of $20.31.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same period last year, the firm posted $0.36 earnings per share. On average, sell-side analysts expect that CVB Financial Corporation will post 1.63 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insider Buying and Selling at CVB Financial

In related news, Director George A. Borba, Jr. purchased 25,187 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $19.85 per share, with a total value of $499,961.95. Following the acquisition, the director owned 846,308 shares of the company’s stock, valued at $16,799,213.80. This trade represents a 3.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company’s stock.

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.