Bessemer Group Inc. Acquires 249,490 Shares of CVB Financial Corporation $CVBF

Bessemer Group Inc. raised its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 29.5% in the third quarter, Holdings Channel reports. The fund owned 1,095,694 shares of the financial services provider’s stock after acquiring an additional 249,490 shares during the period. Bessemer Group Inc.’s holdings in CVB Financial were worth $20,720,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of CVB Financial in the 3rd quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its stake in CVB Financial by 394.6% in the third quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock valued at $66,000 after buying an additional 2,790 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in CVB Financial in the second quarter valued at approximately $103,000. GAMMA Investing LLC boosted its holdings in shares of CVB Financial by 10.7% in the third quarter. GAMMA Investing LLC now owns 6,384 shares of the financial services provider’s stock valued at $121,000 after buying an additional 619 shares during the period. Finally, CWM LLC increased its position in shares of CVB Financial by 9.7% during the second quarter. CWM LLC now owns 8,954 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 795 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVBF has been the topic of several research reports. Weiss Ratings reaffirmed 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 report on Sunday, December 14th. Finally, DA Davidson increased their price objective on CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, CVB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. bought 27,094 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $18.45 per share, for a total transaction of $499,884.30. Following the completion of the acquisition, the director owned 745,782 shares in the company, valued at approximately $13,759,677.90. This represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company’s stock.

CVB Financial Price Performance

CVB Financial stock opened at $21.43 on Friday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 14.29 and a beta of 0.68. The firm has a 50-day moving average of $19.73 and a 200-day moving average of $19.44. CVB Financial Corporation has a one year low of $16.01 and a one year 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 (EPS) for the quarter, hitting the consensus estimate of $0.40. CVB Financial had a return on equity of 9.30% and a net margin of 32.28%.The business had revenue of $133.85 million for the quarter, compared to analyst estimates of $135.45 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts expect that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

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

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.