Deutsche Bank AG Lowers Stake in CVB Financial Corporation $CVBF

Deutsche Bank AG cut its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF) by 8.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,572 shares of the financial services provider’s stock after selling 10,308 shares during the period. Deutsche Bank AG owned approximately 0.08% of CVB Financial worth $1,986,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of CVB Financial by 58.8% during the 1st quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 1,655 shares during the period. KBC Group NV grew its position in shares of CVB Financial by 20.4% during the 1st quarter. KBC Group NV now owns 7,231 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,226 shares during the period. QRG Capital Management Inc. grew its position in shares of CVB Financial by 9.4% during the 1st quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 878 shares during the period. TrueMark Investments LLC acquired a new stake in shares of CVB Financial during the 1st quarter valued at about $201,000. Finally, Knightsbridge Asset Management LLC acquired a new stake in shares of CVB Financial during the 4th quarter valued at about $204,000. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Trading Down 0.2%

Shares of CVB Financial stock opened at $19.25 on Friday. The firm has a market capitalization of $2.65 billion, a PE ratio of 13.28 and a beta of 0.69. CVB Financial Corporation has a twelve month low of $16.01 and a twelve month high of $24.58. The firm’s 50-day moving average price is $19.68 and its 200 day moving average price is $19.20.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $126.35 million for the quarter, compared to analyst estimates of $127.95 million. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. During the same period last year, the company posted $0.36 EPS. On average, sell-side analysts predict that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. CVB Financial’s dividend payout ratio (DPR) is currently 55.17%.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. bought 53,567 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were acquired at an average cost of $18.67 per share, with a total value of $1,000,095.89. Following the purchase, the director directly owned 718,688 shares of the company’s stock, valued at $13,417,904.96. This trade represents a 8.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their target price on CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Piper Sandler raised their target price on CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.25.

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.