Comerica Bank Sells 12,000 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Comerica Bank reduced its position in CVB Financial Corp. (NASDAQ:CVBFGet Rating) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,261 shares of the financial services provider’s stock after selling 12,000 shares during the quarter. Comerica Bank owned about 0.07% of CVB Financial worth $2,542,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its holdings in CVB Financial by 7.7% in the first quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock worth $483,284,000 after purchasing an additional 1,487,960 shares during the last quarter. Vanguard Group Inc. grew its holdings in CVB Financial by 5.2% in the first quarter. Vanguard Group Inc. now owns 15,296,047 shares of the financial services provider’s stock worth $355,021,000 after purchasing an additional 750,265 shares during the last quarter. State Street Corp grew its holdings in CVB Financial by 24.3% in the first quarter. State Street Corp now owns 7,689,996 shares of the financial services provider’s stock worth $178,485,000 after purchasing an additional 1,502,666 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CVB Financial by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,216,929 shares of the financial services provider’s stock worth $74,666,000 after purchasing an additional 72,475 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CVB Financial by 9.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,656,089 shares of the financial services provider’s stock worth $61,648,000 after purchasing an additional 226,536 shares during the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVBF has been the topic of several analyst reports. StockNews.com raised shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a report on Friday, October 21st.

Insider Buying and Selling at CVB Financial

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

CVB Financial Price Performance

Shares of CVBF opened at $25.56 on Wednesday. The firm has a market capitalization of $3.57 billion, a PE ratio of 16.60 and a beta of 0.44. CVB Financial Corp. has a 1-year low of $21.44 and a 1-year high of $29.25. The company’s fifty day moving average price is $26.74 and its 200-day moving average price is $26.53.

CVB Financial (NASDAQ:CVBFGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $144.93 million for the quarter, compared to analyst estimates of $143.30 million. CVB Financial had a net margin of 41.25% and a return on equity of 10.82%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, research analysts anticipate that CVB Financial Corp. will post 1.68 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Thursday, December 29th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.13%. The ex-dividend date was Wednesday, December 28th. CVB Financial’s payout ratio is 51.95%.

CVB Financial Profile

(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.

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

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