Mutual of America Capital Management LLC Lowers Stock Position in CVB Financial Corporation $CVBF

Mutual of America Capital Management LLC cut its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 13.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,640 shares of the financial services provider’s stock after selling 2,481 shares during the period. Mutual of America Capital Management LLC’s holdings in CVB Financial were worth $329,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CVBF. Dimensional Fund Advisors LP boosted its stake in shares of CVB Financial by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider’s stock worth $124,752,000 after acquiring an additional 400,670 shares in the last quarter. Nuveen LLC purchased a new position in CVB Financial during the first quarter worth approximately $6,932,000. Victory Capital Management Inc. boosted its position in CVB Financial by 21.4% during the first quarter. Victory Capital Management Inc. now owns 1,806,879 shares of the financial services provider’s stock worth $33,355,000 after purchasing an additional 318,882 shares in the last quarter. Jane Street Group LLC purchased a new position in CVB Financial during the first quarter worth approximately $4,461,000. Finally, Charles Schwab Investment Management Inc. boosted its position in CVB Financial by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,396,677 shares of the financial services provider’s stock worth $99,623,000 after purchasing an additional 240,159 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 53,567 shares of CVB Financial stock in a transaction that occurred on Monday, August 4th. The shares were purchased at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the completion of the transaction, the director owned 718,688 shares in the company, valued at $13,417,904.96. This represents a 8.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anna Kan sold 11,000 shares of CVB Financial stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total value of $223,850.00. Following the transaction, the director owned 31,593 shares in the company, valued at approximately $642,917.55. The trade was a 25.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.10% of the company’s stock.

CVB Financial Stock Performance

Shares of CVBF stock opened at $18.57 on Thursday. The stock’s fifty day moving average is $19.44 and its two-hundred day moving average is $19.33. The firm has a market capitalization of $2.56 billion, a P/E ratio of 12.72 and a beta of 0.67. CVB Financial Corporation has a fifty-two week low of $16.01 and a fifty-two week high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The firm had revenue of $128.58 million for the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. On average, equities analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, October 1st. CVB Financial’s dividend payout ratio (DPR) is 54.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CVBF shares. Keefe, Bruyette & Woods decreased 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a report on Tuesday, October 14th. Finally, Piper Sandler increased their price objective on shares of CVB Financial from $24.00 to $26.00 and gave the company 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.33.

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.