Mutual of America Capital Management LLC increased its position in shares of CVB Financial Corp. (NASDAQ:CVBF – Get Rating) by 12.2% during the first quarter, HoldingsChannel.com reports. The firm owned 19,521 shares of the financial services provider’s stock after buying an additional 2,117 shares during the period. Mutual of America Capital Management LLC’s holdings in CVB Financial were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. River Oaks Capital LLC bought a new stake in CVB Financial in the first quarter valued at $40,000. Covestor Ltd bought a new stake in CVB Financial in the fourth quarter valued at $57,000. US Asset Management LLC bought a new stake in CVB Financial in the first quarter valued at $128,000. Strs Ohio bought a new stake in CVB Financial in the first quarter valued at $150,000. Finally, Advisor Group Holdings Inc. grew its position in CVB Financial by 10.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,456 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 717 shares during the period. 68.99% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on CVBF shares. Wedbush upped their price target on CVB Financial to $26.00 in a research report on Monday, July 25th. StockNews.com raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st.
CVB Financial Stock Performance
CVB Financial stock opened at $26.67 on Monday. The firm has a market cap of $3.76 billion, a P/E ratio of 18.39 and a beta of 0.35. The business’s fifty day moving average is $24.84 and its two-hundred day moving average is $23.84. CVB Financial Corp. has a 52 week low of $18.72 and a 52 week high of $26.80.
CVB Financial (NASDAQ:CVBF – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. CVB Financial had a return on equity of 9.85% and a net margin of 40.88%. The business had revenue of $136.61 million for the quarter, compared to analyst estimates of $131.40 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities research analysts predict that CVB Financial Corp. will post 1.65 earnings per share for the current year.
CVB Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, June 29th. This is a positive change from CVB Financial’s previous quarterly dividend of $0.18. CVB Financial’s dividend payout ratio is 52.41%.
In other news, Director Anna Kan sold 7,000 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $24.20, for a total transaction of $169,400.00. Following the transaction, the director now owns 24,975 shares of the company’s stock, valued at $604,395. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is currently owned by insiders.
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.
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