Nuveen LLC Acquires Shares of 375,510 CVB Financial Corporation $CVBF

Nuveen LLC acquired a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 375,510 shares of the financial services provider’s stock, valued at approximately $6,932,000. Nuveen LLC owned about 0.27% of CVB Financial as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its position in CVB Financial by 58.8% in 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 last quarter. KBC Group NV grew its position in CVB Financial by 20.4% in 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 last quarter. Headlands Technologies LLC bought a new position in CVB Financial in the 1st quarter valued at $163,000. QRG Capital Management Inc. grew its position in CVB Financial by 9.4% in 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 last quarter. Finally, Fiduciary Trust Co bought a new position in CVB Financial in the 4th quarter valued at $222,000. Institutional investors own 74.18% of the company’s stock.

Insiders Place Their Bets

In related news, Director George A. Borba, Jr. acquired 53,567 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were bought at an average price of $18.67 per share, with a total value of $1,000,095.89. Following the completion of the transaction, the director directly owned 718,688 shares in the company, valued at $13,417,904.96. This trade represents a 8.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVBF shares. Piper Sandler upped their price objective on CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods dropped their price target 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. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

CVB Financial Trading Up 5.3%

CVBF opened at $20.27 on Monday. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $24.58. The business’s fifty day simple moving average is $19.71 and its 200-day simple moving average is $19.17. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 13.98 and a beta of 0.69.

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

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a dividend of $0.20 per share. 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 3.9%. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

About CVB Financial

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.