Voya Investment Management LLC Sells 3,679 Shares of CVB Financial Corporation $CVBF

Voya Investment Management LLC lowered its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,285 shares of the financial services provider’s stock after selling 3,679 shares during the quarter. Voya Investment Management LLC’s holdings in CVB Financial were worth $670,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Intech Investment Management LLC lifted its position in CVB Financial by 45.8% during the 1st quarter. Intech Investment Management LLC now owns 98,028 shares of the financial services provider’s stock valued at $1,810,000 after purchasing an additional 30,799 shares during the period. Jane Street Group LLC bought a new stake in shares of CVB Financial during the first quarter worth approximately $4,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CVB Financial by 9.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock valued at $8,458,000 after buying an additional 38,250 shares during the period. Jones Financial Companies Lllp lifted its holdings in CVB Financial by 848.1% in the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after buying an additional 13,527 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CVB Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock valued at $1,456,000 after acquiring an additional 3,442 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

CVBF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on CVB Financial from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Piper Sandler upped their price target on CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.25.

Insider Buying and Selling

In other CVB Financial news, Director Anna Kan sold 11,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total value of $223,850.00. Following the transaction, the director directly owned 31,593 shares in the company, valued at $642,917.55. The trade was a 25.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George A. Borba, Jr. acquired 53,567 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was bought at an average cost of $18.67 per share, for a total transaction of $1,000,095.89. Following the completion of the transaction, the director directly owned 718,688 shares of the company’s stock, valued at approximately $13,417,904.96. This trade represents a 8.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by insiders.

CVB Financial Stock Performance

NASDAQ CVBF opened at $19.53 on Friday. CVB Financial Corporation has a 52 week low of $16.01 and a 52 week high of $24.58. The stock’s 50 day moving average price is $19.74 and its two-hundred day moving average price is $19.19. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 13.47 and a beta of 0.71.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating 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 previous year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, October 1st. CVB Financial’s 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.