Mirae Asset Global Investments Co. Ltd. Raises Position in CVB Financial Corp. (NASDAQ:CVBF)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,791 shares of the financial services provider’s stock after purchasing an additional 5,867 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CVB Financial were worth $1,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVBF. FMR LLC increased its stake in shares of CVB Financial by 96.0% during the second quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 860 shares in the last quarter. Royal Bank of Canada increased its stake in shares of CVB Financial by 277.7% during the third quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 2,116 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of CVB Financial during the fourth quarter valued at approximately $92,000. Covestor Ltd increased its stake in shares of CVB Financial by 73.9% during the first quarter. Covestor Ltd now owns 4,609 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,959 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of CVB Financial during the second quarter valued at approximately $129,000. Institutional investors own 74.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CVBF shares. Wedbush decreased their target price on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. StockNews.com raised shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.67.

Insiders Place Their Bets

In related news, CEO David A. Brager bought 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, with a total value of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David A. Brager bought 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, with a total value of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was bought at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the transaction, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 63,601 shares of company stock valued at $1,067,145. Company insiders own 6.00% of the company’s stock.

CVB Financial Stock Up 4.1 %

Shares of CVBF opened at $16.63 on Friday. The company has a market capitalization of $2.32 billion, a P/E ratio of 10.46 and a beta of 0.46. The firm has a 50 day moving average of $17.04 and a 200 day moving average of $17.69. CVB Financial Corp. has a twelve month low of $10.66 and a twelve month high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The company had revenue of $138.52 million during the quarter, compared to the consensus estimate of $134.88 million. On average, sell-side analysts expect that CVB Financial Corp. will post 1.48 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is presently 50.31%.

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.