CVB Financial Corporation $CVBF Stock Holdings Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 4.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,321,487 shares of the financial services provider’s stock after selling 66,911 shares during the period. Bank of New York Mellon Corp’s holdings in CVB Financial were worth $25,624,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVBF. Dimensional Fund Advisors LP grew its holdings in shares of CVB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,281,980 shares of the financial services provider’s stock worth $135,447,000 after acquiring an additional 171,971 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVB Financial by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock valued at $102,092,000 after purchasing an additional 67,563 shares during the last quarter. HoldCo Asset Management LP lifted its holdings in shares of CVB Financial by 17,051.0% during the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock valued at $41,366,000 after purchasing an additional 2,211,005 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of CVB Financial by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock valued at $37,784,000 after purchasing an additional 74,914 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of CVB Financial by 2.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock valued at $32,359,000 after purchasing an additional 39,771 shares during the period. 74.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director George A. Borba, Jr. purchased 25,187 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the purchase, the director directly owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.40% of the stock is currently owned by company insiders.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $22.50 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.73. CVB Financial Corporation has a fifty-two week low of $17.94 and a fifty-two week high of $23.36. The firm has a fifty day moving average price of $21.54 and a two-hundred day moving average price of $20.47. The company has a market cap of $3.97 billion, a PE ratio of 15.52 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $179.43 million for the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same quarter in the previous year, the firm posted $0.36 EPS. Analysts expect that CVB Financial Corporation will post 1.66 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. CVB Financial’s dividend payout ratio (DPR) is 55.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVBF shares. Stephens restated an “equal weight” rating and set a $23.00 price objective on shares of CVB Financial in a report on Tuesday, June 16th. Piper Sandler raised their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James Financial raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Finally, DA Davidson raised their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.25.

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.