1,442 Shares in CVB Financial Corporation $CVBF Purchased by AlphaQuest LLC

AlphaQuest LLC bought a new position in CVB Financial Corporation (NASDAQ:CVBF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,442 shares of the financial services provider’s stock, valued at approximately $27,000.

A number of other hedge funds also recently made changes to their positions in CVBF. Brooklyn Investment Group lifted its position in shares of CVB Financial by 240,700.0% in the first quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock worth $44,000 after buying an additional 2,407 shares in the last quarter. Blue Trust Inc. increased its stake in CVB Financial by 58.8% during the first quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 1,655 shares during the last quarter. KBC Group NV increased its stake in CVB Financial by 20.4% during the first quarter. KBC Group NV now owns 7,231 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,226 shares during the last quarter. Headlands Technologies LLC bought a new stake in CVB Financial during the first quarter worth approximately $163,000. Finally, QRG Capital Management Inc. increased its stake in CVB Financial by 9.4% during the first quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 878 shares during the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CVB Financial

In other 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 purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVBF shares. Piper Sandler boosted their price objective on CVB Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods reduced their price objective on CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.25.

CVB Financial Stock Performance

CVBF opened at $20.32 on Friday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 14.01 and a beta of 0.71. The stock’s 50 day moving average price is $19.98 and its 200-day moving average price is $19.17. CVB Financial Corporation has a one year low of $16.01 and a one year high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 EPS 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 analysts’ expectations of $127.95 million. CVB Financial had a return on equity of 9.21% and a net margin of 30.99%.During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid 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 dividend yield of 3.9%. CVB Financial’s dividend payout ratio is currently 55.17%.

CVB Financial 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.