Ethic Inc. Has $200,000 Stake in CVB Financial Corporation $CVBF

Ethic Inc. lessened its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 39.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,167 shares of the financial services provider’s stock after selling 6,600 shares during the period. Ethic Inc.’s holdings in CVB Financial were worth $200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in CVB Financial by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,758,075 shares of the financial services provider’s stock valued at $124,752,000 after purchasing an additional 400,670 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CVB Financial by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,396,677 shares of the financial services provider’s stock valued at $99,623,000 after buying an additional 240,159 shares in the last quarter. Victory Capital Management Inc. increased its position in CVB Financial by 21.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,806,879 shares of the financial services provider’s stock valued at $33,355,000 after buying an additional 318,882 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of CVB Financial by 12.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,636,814 shares of the financial services provider’s stock worth $30,216,000 after acquiring an additional 185,890 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in CVB Financial by 10.9% during the 1st quarter. Wellington Management Group LLP now owns 1,074,768 shares of the financial services provider’s stock worth $19,840,000 after acquiring an additional 105,353 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

Insider Buying and Selling at CVB Financial

In related news, Director Anna Kan sold 11,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George A. Borba, Jr. acquired 53,567 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was acquired 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 in the company, valued at $13,417,904.96. This represents a 8.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.10% of the company’s stock.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $18.37 on Friday. The firm has a market capitalization of $2.53 billion, a P/E ratio of 12.58 and a beta of 0.67. The stock has a 50 day moving average price of $19.38 and a 200-day moving average price of $19.34. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 4.4%. CVB Financial’s payout ratio is presently 54.79%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their target price on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Finally, Piper Sandler increased their target price 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CVB Financial has a consensus rating of “Moderate Buy” and an average price target of $24.33.

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.