CVB Financial Corp. (NASDAQ:CVBF) Stake Increased by Credit Suisse AG

Credit Suisse AG grew its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,452 shares of the financial services provider’s stock after purchasing an additional 7,802 shares during the period. Credit Suisse AG owned approximately 0.15% of CVB Financial worth $3,527,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Citigroup Inc. boosted its holdings in CVB Financial by 20.6% during the first quarter. Citigroup Inc. now owns 121,451 shares of the financial services provider’s stock valued at $2,818,000 after acquiring an additional 20,745 shares during the period. Natixis Advisors L.P. acquired a new stake in shares of CVB Financial in the first quarter valued at approximately $422,000. Bank of Montreal Can grew its holdings in CVB Financial by 5.6% during the 1st quarter. Bank of Montreal Can now owns 40,228 shares of the financial services provider’s stock worth $942,000 after acquiring an additional 2,135 shares during the period. MetLife Investment Management LLC grew its holdings in CVB Financial by 63.5% during the 1st quarter. MetLife Investment Management LLC now owns 72,516 shares of the financial services provider’s stock worth $1,683,000 after acquiring an additional 28,159 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of CVB Financial by 3.2% during the first quarter. Rhumbline Advisers now owns 417,911 shares of the financial services provider’s stock worth $9,700,000 after purchasing an additional 12,818 shares in the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

Insider Activity

In other news, Director George A. Borba, Jr. purchased 165,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $19.52 per share, with a total value of $3,220,800.00. Following the transaction, the director now directly owns 165,000 shares of the company’s stock, valued at approximately $3,220,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 167,150 shares of company stock valued at $3,256,198. Corporate insiders own 5.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVBF. Janney Montgomery Scott raised shares of CVB Financial from a “neutral” rating to a “buy” rating in a research report on Thursday, May 25th. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, CVB Financial currently has a consensus rating of “Hold” and a consensus price target of $20.00.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $17.46 on Friday. The stock has a market capitalization of $2.43 billion, a P/E ratio of 9.98 and a beta of 0.43. The company has a 50-day moving average price of $16.47 and a 200-day moving average price of $16.56. CVB Financial Corp. has a 1 year low of $10.66 and a 1 year high of $29.25.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. CVB Financial had a net margin of 39.70% and a return on equity of 12.58%. The business had revenue of $132.19 million for the quarter, compared to analyst estimates of $132.28 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that CVB Financial Corp. will post 1.61 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, July 6th were paid a $0.20 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a yield of 4.58%. CVB Financial’s dividend payout ratio is presently 45.71%.

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.