CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in CVB Financial Corp. (NASDAQ:CVBF) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 495,768 shares of the financial services provider’s stock after selling 6,465 shares during the period. Victory Capital Management Inc. owned about 0.36% of CVB Financial worth $8,547,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Natixis Advisors LLC increased its stake in shares of CVB Financial by 24.8% during the second quarter. Natixis Advisors LLC now owns 26,038 shares of the financial services provider’s stock worth $449,000 after buying an additional 5,177 shares during the period. nVerses Capital LLC grew its holdings in CVB Financial by 466.7% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,400 shares in the last quarter. WBI Investments LLC purchased a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $177,000. Innealta Capital LLC acquired a new stake in shares of CVB Financial in the 2nd quarter valued at $38,000. Finally, Panagora Asset Management Inc. lifted its holdings in CVB Financial by 10.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 287,104 shares of the financial services provider’s stock worth $4,950,000 after buying an additional 27,674 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Insider Transactions at CVB Financial

In related news, Director Kimberly H. Sheehy sold 2,961 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 13,156 shares in the company, valued at $225,493.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.00% of the company’s stock.

CVB Financial Price Performance

CVB Financial stock opened at $17.71 on Monday. The firm’s 50-day moving average is $17.89 and its two-hundred day moving average is $17.19. The stock has a market capitalization of $2.47 billion, a P/E ratio of 11.65 and a beta of 0.45. CVB Financial Corp. has a 12-month low of $14.62 and a 12-month high of $21.77.

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

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a $0.20 dividend. The ex-dividend date was Thursday, July 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.52%. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush upped their target price on CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Stephens boosted their target price on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

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.