17,115 Shares in CVB Financial Corporation $CVBF Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new stake in CVB Financial Corporation (NASDAQ:CVBF) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,115 shares of the financial services provider’s stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Natixis Advisors LLC raised its stake in CVB Financial by 58.1% during the 1st quarter. Natixis Advisors LLC now owns 47,547 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 17,476 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of CVB Financial by 1.5% during the first quarter. Hsbc Holdings PLC now owns 43,777 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 665 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of CVB Financial during the first quarter worth about $377,000. QRG Capital Management Inc. lifted its holdings in shares of CVB Financial by 7.4% in the 2nd quarter. QRG Capital Management Inc. now owns 11,030 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 763 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of 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 purchasing an additional 318,882 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Down 0.1%

Shares of CVBF stock opened at $18.71 on Thursday. The company has a market capitalization of $2.58 billion, a P/E ratio of 12.82 and a beta of 0.69. The business’s 50 day moving average is $19.14 and its two-hundred day moving average is $19.38. CVB Financial Corporation has a twelve month low of $16.01 and a twelve month high of $24.58.

CVB Financial (NASDAQ:CVBF) last issued 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. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%.The firm had revenue of $128.58 million during the quarter, compared to the consensus estimate of $131.10 million. As a group, equities analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

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

Insider Activity

In related news, Director Anna Kan sold 11,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total transaction of $223,850.00. Following the completion of the transaction, the director directly owned 31,593 shares of the company’s stock, valued at $642,917.55. This represents a 25.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CVBF. Keefe, Bruyette & Woods cut their price target 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. Piper Sandler lifted 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a research report on Tuesday, October 14th. Two research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.