Vanguard Group Inc. Has $317.01 Million Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Vanguard Group Inc. grew its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,701,547 shares of the financial services provider’s stock after purchasing an additional 176,694 shares during the quarter. Vanguard Group Inc. owned approximately 11.27% of CVB Financial worth $317,014,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates boosted its stake in shares of CVB Financial by 2.5% during the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 854 shares in the last quarter. Equitable Trust Co. lifted its stake in shares of CVB Financial by 6.5% in the fourth quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 1,705 shares during the period. Strs Ohio acquired a new position in shares of CVB Financial in the fourth quarter worth approximately $36,000. Natixis Advisors L.P. lifted its stake in shares of CVB Financial by 10.1% in the third quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 1,905 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of CVB Financial by 3.3% in the third quarter. GSA Capital Partners LLP now owns 96,122 shares of the financial services provider’s stock worth $1,593,000 after acquiring an additional 3,112 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director George A. Borba, Jr. purchased 34,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $15.99 per share, for a total transaction of $546,858.00. Following the completion of the acquisition, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director George A. Borba, Jr. purchased 34,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $15.99 per share, for a total transaction of $546,858.00. Following the completion of the acquisition, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George A. Borba, Jr. purchased 4,610 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $16.00 per share, with a total value of $73,760.00. Following the acquisition, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The disclosure for this purchase can be found here. Insiders bought a total of 39,910 shares of company stock worth $638,669 over the last quarter. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of CVB Financial in a research note on Thursday, April 25th. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods cut their price objective on CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a report on Monday, April 22nd. Finally, Wedbush reiterated a “neutral” rating and issued a $19.00 target price on shares of CVB Financial in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, CVB Financial currently has a consensus rating of “Hold” and an average target price of $19.00.

CVB Financial Stock Up 1.4 %

NASDAQ CVBF opened at $17.24 on Friday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 11.34 and a beta of 0.46. CVB Financial Corp. has a 52 week low of $12.89 and a 52 week high of $21.77. The business has a 50 day moving average price of $16.68 and a 200-day moving average price of $17.53.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, equities research analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, July 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.64%. CVB Financial’s dividend payout ratio is 52.63%.

CVB Financial 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.