CVB Financial Corporation $CVBF Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF) by 138.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,747 shares of the financial services provider’s stock after buying an additional 21,926 shares during the period. Sei Investments Co.’s holdings in CVB Financial were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVBF. Aster Capital Management DIFC Ltd boosted its stake in CVB Financial by 8,940.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,967 shares during the period. Kestra Advisory Services LLC bought a new position in shares of CVB Financial during the fourth quarter valued at approximately $42,000. Larson Financial Group LLC raised its position in shares of CVB Financial by 288.9% during the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of CVB Financial during the 2nd quarter worth approximately $103,000. Finally, KBC Group NV lifted its holdings in shares of CVB Financial by 46.2% in the 1st quarter. KBC Group NV now owns 5,684 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,797 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Performance

Shares of NASDAQ CVBF opened at $23.16 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $22.19 and a 200-day simple moving average of $20.75. The company has a market cap of $4.08 billion, a PE ratio of 15.97 and a beta of 0.65. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $23.36.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $179.43 million during the quarter, compared to analyst estimates of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that CVB Financial Corporation will post 1.72 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial’s dividend payout ratio (DPR) is 55.17%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVBF. Piper Sandler boosted their price objective on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Wednesday, July 1st. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a research note on Thursday, August 6th. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, DA Davidson upped their price target on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.25.

Insider Activity at CVB Financial

In related news, Director George A. Borba, Jr. bought 25,187 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $19.85 per share, for a total transaction of $499,961.95. Following the transaction, the director directly owned 846,308 shares of the company’s stock, valued at approximately $16,799,213.80. This represents a 3.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David C. Harvey sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the transaction, the chief operating officer directly owned 98,149 shares in the company, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.40% of the company’s stock.

CVB Financial Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.