American Century Companies Inc. Sells 506,361 Shares of CVB Financial Corporation $CVBF

American Century Companies Inc. decreased its position in CVB Financial Corporation (NASDAQ:CVBF) by 16.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,622,616 shares of the financial services provider’s stock after selling 506,361 shares during the period. American Century Companies Inc. owned approximately 1.90% of CVB Financial worth $51,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AlphaQuest LLC acquired a new position in shares of CVB Financial during the first quarter valued at about $27,000. Brooklyn Investment Group lifted its holdings in CVB Financial by 240,700.0% during the first quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 2,407 shares during the period. Quarry LP raised its stake in shares of CVB Financial by 877.3% during the 1st quarter. Quarry LP now owns 3,010 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 2,702 shares during the period. GAMMA Investing LLC increased its stake in shares of CVB Financial by 13.5% during the 2nd quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 685 shares during the last quarter. Finally, Maseco LLP purchased a new stake in CVB Financial in the second quarter worth $116,000. 74.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. bought 27,094 shares of the stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $18.45 per share, for a total transaction of $499,884.30. Following the purchase, the director directly owned 745,782 shares in the company, valued at $13,759,677.90. This trade represents a 3.77% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anna Kan sold 11,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 31,593 shares of the company’s stock, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

CVBF has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a report on Monday. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.33.

CVB Financial Stock Down 1.4%

Shares of CVBF stock opened at $19.94 on Friday. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 13.66 and a beta of 0.69. The stock has a fifty day moving average of $18.94 and a 200 day moving average of $19.40. CVB Financial Corporation has a 52 week low of $16.01 and a 52 week high of $24.23.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. The business had revenue of $128.58 million for the quarter, compared to the consensus estimate of $131.10 million. Equities research analysts anticipate that CVB Financial Corporation will post 1.41 earnings per share for the current 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 issued a $0.20 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.80 annualized dividend and a yield of 4.0%. CVB Financial’s dividend payout ratio (DPR) is 54.79%.

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.