Headlands Technologies LLC Buys Shares of 6,063 CVB Financial Corp. (NASDAQ:CVBF)

Headlands Technologies LLC bought a new position in shares of CVB Financial Corp. (NASDAQ:CVBF) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,063 shares of the financial services provider’s stock, valued at approximately $122,000.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its position in CVB Financial by 44.1% during the 3rd quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after acquiring an additional 1,204,090 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of CVB Financial by 904.1% during the third quarter. Victory Capital Management Inc. now owns 416,953 shares of the financial services provider’s stock worth $6,909,000 after purchasing an additional 375,426 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CVB Financial by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock valued at $59,558,000 after buying an additional 213,038 shares during the period. Bank of New York Mellon Corp raised its holdings in CVB Financial by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,094,313 shares of the financial services provider’s stock valued at $34,703,000 after buying an additional 183,583 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in CVB Financial by 62.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,804 shares of the financial services provider’s stock worth $6,144,000 after buying an additional 142,272 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CVB Financial news, Director George A. Borba, Jr. bought 59,601 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the transaction, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CVB Financial news, Director George A. Borba, Jr. purchased 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the purchase, the director now owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David A. Brager bought 2,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were acquired at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares in the company, valued at $2,559,634.50. The disclosure for this purchase can be found here. Insiders acquired a total of 63,601 shares of company stock valued at $1,067,145 over the last three months. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVBF shares. Hovde Group downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a research note on Monday, April 22nd. StockNews.com raised CVB Financial to a “sell” rating in a research report on Friday, January 5th. Wedbush reiterated a “neutral” rating and issued a $19.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their price objective on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.00.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $16.46 on Tuesday. The business’s 50-day moving average is $16.96 and its 200-day moving average is $17.72. CVB Financial Corp. has a 1 year low of $10.66 and a 1 year high of $21.77. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.83 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The business had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Analysts anticipate that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were paid a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.86%. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

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.