Whittier Trust Co. Has $70,000 Stake in CVB Financial Corporation $CVBF

Whittier Trust Co. lessened its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF) by 28.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,550 shares of the financial services provider’s stock after selling 1,420 shares during the quarter. Whittier Trust Co.’s holdings in CVB Financial were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its position in CVB Financial by 1.3% during the first quarter. Federated Hermes Inc. now owns 42,126 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 539 shares in the last quarter. Bolthouse Investments LLC raised its position in CVB Financial by 1.0% during the first quarter. Bolthouse Investments LLC now owns 57,524 shares of the financial services provider’s stock valued at $1,062,000 after acquiring an additional 546 shares in the last quarter. Diversified Trust Co raised its position in CVB Financial by 1.1% during the second quarter. Diversified Trust Co now owns 51,421 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 569 shares in the last quarter. Hsbc Holdings PLC raised its position in CVB Financial by 1.5% during the first quarter. Hsbc Holdings PLC now owns 43,777 shares of the financial services provider’s stock valued at $811,000 after acquiring an additional 665 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in CVB Financial by 13.5% during the second quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 685 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler raised their price objective on shares of CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods lowered their price target on CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

CVB Financial Stock Up 2.3%

Shares of CVBF stock opened at $19.07 on Friday. CVB Financial Corporation has a 12 month low of $16.01 and a 12 month high of $24.58. The business’s 50 day moving average is $19.46 and its two-hundred day moving average is $19.26. The company has a market cap of $2.63 billion, a PE ratio of 13.06 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $128.58 million for the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. As a group, equities analysts expect that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Wednesday, October 1st were paid a $0.20 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. CVB Financial’s dividend payout ratio (DPR) is presently 54.79%.

Insider Buying and Selling at CVB Financial

In other news, Director Anna Kan sold 11,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total value of $223,850.00. Following the sale, the director owned 31,593 shares in the company, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George A. Borba, Jr. acquired 53,567 shares of the stock in a transaction dated Monday, August 4th. The stock was bought at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the purchase, the director owned 718,688 shares of the company’s stock, valued at $13,417,904.96. The trade was a 8.05% increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.