CVB Financial Corporation $CVBF Stock Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,496,597 shares of the financial services provider’s stock after selling 32,551 shares during the period. CVB Financial comprises 1.0% of Parallel Advisors LLC’s portfolio, making the stock its 15th largest holding. Parallel Advisors LLC owned about 1.99% of CVB Financial worth $75,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new position in shares of CVB Financial in the 2nd quarter worth $1,710,000. Legal & General Group Plc bought a new stake in shares of CVB Financial in the second quarter worth $8,705,000. Wellington Management Group LLP grew its holdings in shares of CVB Financial by 16.5% in the second quarter. Wellington Management Group LLP now owns 1,227,820 shares of the financial services provider’s stock worth $27,687,000 after acquiring an additional 173,984 shares during the period. Bank of America Corp DE purchased a new stake in CVB Financial during the second quarter valued at $20,882,000. Finally, Bessemer Group Inc. increased its position in CVB Financial by 34.1% during the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock valued at $28,439,000 after acquiring an additional 372,732 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Performance

NASDAQ:CVBF traded down $0.12 during mid-day trading on Friday, hitting $22.74. 1,070,877 shares of the company traded hands, compared to its average volume of 1,353,438. The stock’s fifty day moving average price is $22.32 and its 200-day moving average price is $21.23. CVB Financial Corporation has a one year low of $18.10 and a one year high of $23.95. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 15.06 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). CVB Financial had a return on equity of 9.42% and a net margin of 29.54%. The company had revenue of $195.56 million during the quarter, compared to the consensus estimate of $192.80 million. During the same period last year, the business earned $0.38 EPS. Research analysts anticipate that CVB Financial Corporation will post 1.77 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 15th. Investors of record on Wednesday, September 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, September 30th. CVB Financial’s dividend payout ratio is currently 52.98%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CVBF shares. DA Davidson boosted their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research note on Thursday, August 6th. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. Finally, Piper Sandler boosted their target price on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CVB Financial has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

Insider Buying and Selling

In other news, Director Mike Maddox bought 10,000 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were bought at an average price of $22.03 per share, for a total transaction of $220,300.00. Following the purchase, the director owned 13,138 shares in the company, valued at approximately $289,430.14. The trade was a 318.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.

About CVB Financial

CVB Financial Corp. is a bank holding company headquartered in Ontario, California. Its principal subsidiary, Citizens Business Bank, provides banking and financial services to businesses, professionals, and individuals, with a focus on relationship-based commercial banking.

Citizens Business Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, equipment financing, treasury management, cash management, and international banking services.