Woodward Diversified Capital LLC Acquires Shares of 19,000 CVB Financial Corporation $CVBF

Woodward Diversified Capital LLC acquired a new stake in shares of CVB Financial Corporation (NASDAQ:CVBF) in the 2nd quarter, Holdings Channel reports. The firm acquired 19,000 shares of the financial services provider’s stock, valued at approximately $376,000.

Several other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position 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 valued at $124,752,000 after buying an additional 400,670 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $99,623,000 after purchasing an additional 240,159 shares during the period. Victory Capital Management Inc. raised 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 valued at $33,355,000 after purchasing an additional 318,882 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in CVB Financial by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,636,814 shares of the financial services provider’s stock valued at $30,216,000 after buying an additional 185,890 shares during the period. Finally, Wellington Management Group LLP raised 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 valued at $19,840,000 after buying an additional 105,353 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Down 1.2%

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

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $126.35 million for the quarter, compared to the consensus estimate of $127.95 million. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. During the same quarter last year, the firm posted $0.36 EPS. Research analysts expect that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, October 1st. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVBF. Piper Sandler increased their price target on CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Keefe, Bruyette & Woods reduced their price objective on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

Insider Buying and Selling at CVB Financial

In other news, Director Anna Kan sold 11,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total transaction of $223,850.00. Following the transaction, the director owned 31,593 shares in the company, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George A. Borba, Jr. purchased 53,567 shares of the business’s stock in a transaction dated 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 purchase, the director 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 position. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.

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.