Cerity Partners LLC Buys 28,501 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Cerity Partners LLC increased its position in CVB Financial Corp. (NASDAQ:CVBF) by 27.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,656 shares of the financial services provider’s stock after acquiring an additional 28,501 shares during the quarter. Cerity Partners LLC owned about 0.09% of CVB Financial worth $2,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of CVB Financial during the 3rd quarter valued at $27,000. nVerses Capital LLC boosted its stake in CVB Financial by 466.7% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,400 shares during the period. Versant Capital Management Inc boosted its stake in CVB Financial by 832.8% during the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,574 shares during the period. Innealta Capital LLC purchased a new position in CVB Financial during the second quarter worth about $38,000. Finally, GAMMA Investing LLC increased its stake in CVB Financial by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 780 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Performance

CVBF stock opened at $23.42 on Monday. The company has a market capitalization of $3.27 billion, a PE ratio of 16.38 and a beta of 0.44. CVB Financial Corp. has a one year low of $15.71 and a one year high of $24.58. The company’s 50 day moving average price is $20.23 and its two-hundred day moving average price is $18.38.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The company had revenue of $126.45 million for the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts predict that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.42%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio is presently 55.94%.

Analysts Set New Price Targets

Several research analysts have recently commented on CVBF shares. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Piper Sandler dropped their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVB Financial currently has a consensus rating of “Hold” and a consensus price target of $20.80.

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.