Swiss National Bank Grows Position in CVB Financial Corp. (NASDAQ:CVBF)

Swiss National Bank increased its position in CVB Financial Corp. (NASDAQ:CVBFGet Rating) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 339,400 shares of the financial services provider’s stock after purchasing an additional 35,000 shares during the quarter. Swiss National Bank owned approximately 0.24% of CVB Financial worth $8,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVBF. State Street Corp lifted its stake in shares of CVB Financial by 24.3% in the 1st quarter. State Street Corp now owns 7,689,996 shares of the financial services provider’s stock valued at $178,485,000 after purchasing an additional 1,502,666 shares during the period. BlackRock Inc. lifted its stake in shares of CVB Financial by 7.7% in the 1st quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock valued at $483,284,000 after purchasing an additional 1,487,960 shares during the period. Eaton Vance Management raised its stake in CVB Financial by 131.2% during the first quarter. Eaton Vance Management now owns 1,560,789 shares of the financial services provider’s stock valued at $36,226,000 after buying an additional 885,786 shares during the last quarter. Vanguard Group Inc. raised its stake in CVB Financial by 5.2% during the first quarter. Vanguard Group Inc. now owns 15,296,047 shares of the financial services provider’s stock valued at $355,021,000 after buying an additional 750,265 shares during the last quarter. Finally, Clifford Capital Partners LLC purchased a new position in CVB Financial during the second quarter valued at $11,139,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP David F. Farnsworth sold 3,447 shares of CVB Financial stock in a transaction on Friday, October 28th. The stock was sold at an average price of $28.48, for a total value of $98,170.56. Following the completion of the sale, the executive vice president now owns 34,796 shares of the company’s stock, valued at $990,990.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP David F. Farnsworth sold 3,447 shares of CVB Financial stock in a transaction on Friday, October 28th. The stock was sold at an average price of $28.48, for a total value of $98,170.56. Following the completion of the sale, the executive vice president now owns 34,796 shares of the company’s stock, valued at $990,990.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David F. Farnsworth sold 11,553 shares of CVB Financial stock in a transaction on Monday, October 31st. The stock was sold at an average price of $28.51, for a total value of $329,376.03. Following the completion of the sale, the executive vice president now directly owns 34,796 shares of the company’s stock, valued at approximately $992,033.96. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.

CVB Financial Trading Up 1.2 %

CVB Financial stock opened at $28.10 on Tuesday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 18.25 and a beta of 0.42. The stock has a fifty day simple moving average of $27.07 and a two-hundred day simple moving average of $25.91. CVB Financial Corp. has a 12 month low of $19.00 and a 12 month high of $29.25.

CVB Financial (NASDAQ:CVBFGet Rating) last posted its earnings results on Thursday, October 20th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $144.93 million during the quarter, compared to analyst estimates of $143.30 million. CVB Financial had a return on equity of 10.82% and a net margin of 41.25%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. On average, equities research analysts forecast that CVB Financial Corp. will post 1.68 EPS for the current fiscal year.

CVB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 20th. Investors of record on Wednesday, October 5th were issued a $0.20 dividend. The ex-dividend date was Tuesday, October 4th. This represents a $0.80 annualized dividend and a dividend yield of 2.85%. This is a positive change from CVB Financial’s previous quarterly dividend of $0.19. CVB Financial’s payout ratio is presently 51.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVBF shares. Wedbush lifted their price objective on CVB Financial to $26.00 in a research note on Monday, July 25th. StockNews.com started coverage on CVB Financial in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research note on Friday, October 21st.

About CVB Financial

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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