CVB Financial Corporation $CVBF Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 13.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,765 shares of the financial services provider’s stock after buying an additional 685 shares during the quarter. GAMMA Investing LLC’s holdings in CVB Financial were worth $114,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund raised its stake in CVB Financial by 2.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 71,615 shares of the financial services provider’s stock valued at $1,322,000 after acquiring an additional 1,671 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CVB Financial by 2.7% during the first quarter. Principal Financial Group Inc. now owns 654,007 shares of the financial services provider’s stock worth $12,073,000 after purchasing an additional 17,205 shares during the period. Natixis Advisors LLC increased its stake in shares of CVB Financial by 58.1% in the first quarter. Natixis Advisors LLC now owns 47,547 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 17,476 shares during the last quarter. KBC Group NV lifted its holdings 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 buying an additional 1,226 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CVB Financial by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 106,996 shares of the financial services provider’s stock worth $1,975,000 after purchasing an additional 11,962 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Stock Down 1.2%

CVBF stock opened at $18.69 on Thursday. CVB Financial Corporation has a twelve month low of $16.01 and a twelve month high of $24.58. The company has a market cap of $2.58 billion, a PE ratio of 12.89 and a beta of 0.67. The business’s 50-day simple moving average is $19.59 and its 200 day simple moving average is $19.20.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $126.35 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.36 EPS. On average, equities research analysts anticipate that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, October 1st. CVB Financial’s dividend payout ratio is 55.17%.

Analyst Ratings Changes

CVBF has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their price target on CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Piper Sandler upped their price objective on shares of CVB Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, CVB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. acquired 53,567 shares of CVB Financial stock in a transaction 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 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anna Kan sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total transaction of $223,850.00. Following the completion of the sale, the director owned 31,593 shares of the company’s stock, valued at $642,917.55. The trade was a 25.83% decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

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.