Edgestream Partners L.P. Has $1.54 Million Position in CVB Financial Corp. (NASDAQ:CVBF)

Edgestream Partners L.P. cut its stake in CVB Financial Corp. (NASDAQ:CVBF) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,427 shares of the financial services provider’s stock after selling 6,900 shares during the period. Edgestream Partners L.P. owned approximately 0.06% of CVB Financial worth $1,542,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in CVB Financial by 104.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after purchasing an additional 1,994,369 shares in the last quarter. Norges Bank acquired a new position in shares of CVB Financial in the 4th quarter valued at approximately $29,134,000. Dimensional Fund Advisors LP lifted its holdings in shares of CVB Financial by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock worth $97,399,000 after acquiring an additional 816,176 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of CVB Financial by 368.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock worth $14,559,000 after acquiring an additional 567,321 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in CVB Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after acquiring an additional 176,694 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVBF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $20.00 target price (up previously from $19.00) on shares of CVB Financial in a report on Friday, July 26th. Wedbush raised their price objective on CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Stephens lifted their target price on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, CVB Financial presently has an average rating of “Hold” and an average price target of $20.00.

CVB Financial Stock Performance

Shares of CVBF opened at $18.57 on Friday. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 12.22 and a beta of 0.45. CVB Financial Corp. has a 52 week low of $14.62 and a 52 week high of $21.77. The stock has a fifty day moving average of $17.96 and a 200-day moving average of $17.22.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The firm had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts forecast that CVB Financial Corp. will post 1.4 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.31%. The ex-dividend date is Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is currently 52.63%.

Insider Activity

In related news, Director Kimberly H. Sheehy sold 2,961 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $17.14, for a total value of $50,751.54. Following the sale, the director now owns 13,156 shares of the company’s stock, valued at $225,493.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

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.