Soltis Investment Advisors LLC Invests $249,000 in CVB Financial Corporation $CVBF

Soltis Investment Advisors LLC bought a new stake in CVB Financial Corporation (NASDAQ:CVBF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,595 shares of the financial services provider’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in CVB Financial by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider’s stock valued at $124,752,000 after acquiring an additional 400,670 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVB Financial by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,396,677 shares of the financial services provider’s stock worth $99,623,000 after purchasing an additional 240,159 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of CVB Financial by 21.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,806,879 shares of the financial services provider’s stock worth $33,355,000 after purchasing an additional 318,882 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in CVB Financial by 12.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,636,814 shares of the financial services provider’s stock valued at $30,216,000 after purchasing an additional 185,890 shares during the period. Finally, Wellington Management Group LLP increased its stake in CVB Financial by 10.9% during the 1st quarter. Wellington Management Group LLP now owns 1,074,768 shares of the financial services provider’s stock valued at $19,840,000 after purchasing an additional 105,353 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

Shares of CVBF stock opened at $18.71 on Friday. The firm has a 50-day moving average of $19.22 and a 200-day moving average of $19.37. CVB Financial Corporation has a one year low of $16.01 and a one year high of $24.58. The company has a market cap of $2.58 billion, a P/E ratio of 12.82 and a beta of 0.69.

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

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Wednesday, October 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, October 1st. CVB Financial’s dividend payout ratio (DPR) is presently 54.79%.

Analysts Set New Price Targets

A number of research firms have weighed in on CVBF. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their price target on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Finally, Piper Sandler lifted their price target on CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CVB Financial has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Insider Buying and Selling

In other CVB Financial news, Director Anna Kan sold 11,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total value of $223,850.00. Following the completion of the transaction, the director owned 31,593 shares in the company, valued at $642,917.55. This represents a 25.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.10% of the company’s stock.

CVB Financial Company 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.