Ieq Capital LLC Takes $1.83 Million Position in CVB Financial Corporation $CVBF

Ieq Capital LLC purchased a new stake in shares of CVB Financial Corporation (NASDAQ:CVBF) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 81,358 shares of the financial services provider’s stock, valued at approximately $1,835,000.

Several other hedge funds have also recently modified their holdings of the business. Aster Capital Management DIFC Ltd grew its stake in shares of CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,967 shares during the period. Kestra Advisory Services LLC purchased a new position in CVB Financial during the fourth quarter valued at $42,000. EverSource Wealth Advisors LLC grew its holdings in CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 695 shares during the period. Larson Financial Group LLC increased its position in CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,791 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of CVB Financial during the 2nd quarter valued at about $103,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 0.2%

CVB Financial stock opened at $22.39 on Wednesday. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.41. The business has a fifty day moving average of $22.49 and a two-hundred day moving average of $20.91. The firm has a market cap of $3.94 billion, a P/E ratio of 15.44 and a beta of 0.65. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 29.02% and a return on equity of 9.21%. During the same period in the previous year, the business earned $0.36 EPS. On average, analysts forecast that CVB Financial Corporation will post 1.72 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

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 is presently 55.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. DA Davidson increased their target price on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Piper Sandler increased their target price on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Stephens raised CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, CVB Financial currently has an average rating of “Moderate Buy” and a consensus target price of $26.25.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, Director Brien Raymond V. O. III acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the acquisition, the director owned 85,780 shares in the company, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David C. Harvey sold 40,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total value of $917,600.00. Following the completion of the sale, the chief operating officer owned 98,149 shares of the company’s stock, valued at approximately $2,251,538.06. This trade represents a 28.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.40% of the stock is currently owned by insiders.

About CVB Financial

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.