State of Alaska Department of Revenue Has $1.44 Million Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

State of Alaska Department of Revenue lowered its stake in CVB Financial Corp. (NASDAQ:CVBFFree Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,643 shares of the financial services provider’s stock after selling 792 shares during the period. State of Alaska Department of Revenue owned 0.06% of CVB Financial worth $1,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strs Ohio bought a new position in shares of CVB Financial in the 4th quarter valued at $36,000. GAMMA Investing LLC bought a new position in CVB Financial in the fourth quarter valued at about $102,000. Headlands Technologies LLC acquired a new stake in shares of CVB Financial during the fourth quarter valued at about $122,000. Assetmark Inc. boosted its stake in shares of CVB Financial by 141.5% during the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,038 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of CVB Financial during the fourth quarter worth about $268,000. Institutional investors own 74.18% of the company’s stock.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. purchased 4,610 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were purchased at an average price of $16.00 per share, with a total value of $73,760.00. Following the acquisition, the director now directly owns 665,121 shares of the company’s stock, valued at $10,641,936. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director George A. Borba, Jr. bought 34,200 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $15.99 per share, with a total value of $546,858.00. Following the purchase, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George A. Borba, Jr. purchased 4,610 shares of CVB Financial stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the purchase, the director now owns 665,121 shares of the company’s stock, valued at $10,641,936. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 39,910 shares of company stock worth $638,669. Insiders own 6.00% of the company’s stock.

CVB Financial Trading Up 0.1 %

Shares of NASDAQ CVBF opened at $16.72 on Tuesday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 11.00 and a beta of 0.47. The stock has a fifty day simple moving average of $16.70 and a two-hundred day simple moving average of $17.35. CVB Financial Corp. has a 1-year low of $13.47 and a 1-year high of $21.77.

CVB Financial (NASDAQ:CVBFGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The business had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. During the same quarter in the prior year, the firm posted $0.42 EPS. CVB Financial’s revenue was down 8.9% on a year-over-year basis. Analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, July 11th. CVB Financial’s payout ratio is 52.63%.

Analysts Set New Price Targets

CVBF has been the topic of several recent research reports. Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Wedbush reissued a “neutral” rating and issued a $19.00 price objective on shares of CVB Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Janney Montgomery Scott downgraded CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Finally, Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, CVB Financial presently has a consensus rating of “Hold” and a consensus price target of $19.00.

Check Out Our Latest Report on CVB Financial

About CVB Financial

(Free Report)

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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