Bank of Montreal Can boosted its position in shares of CVB Financial Corp. (NASDAQ:CVBF – Free Report) by 237.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,072 shares of the financial services provider’s stock after buying an additional 49,333 shares during the period. Bank of Montreal Can owned approximately 0.05% of CVB Financial worth $1,208,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC increased its stake in CVB Financial by 466.7% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,400 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of CVB Financial by 832.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,574 shares in the last quarter. Innealta Capital LLC acquired a new stake in CVB Financial in the second quarter valued at about $38,000. WBI Investments LLC acquired a new stake in CVB Financial in the second quarter valued at about $177,000. Finally, Russell Investments Group Ltd. grew its position in CVB Financial by 9,211.9% in the first quarter. Russell Investments Group Ltd. now owns 12,571 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 12,436 shares during the last quarter. 74.18% of the stock is owned by institutional investors.
CVB Financial Price Performance
NASDAQ:CVBF opened at $18.05 on Friday. CVB Financial Corp. has a one year low of $14.62 and a one year high of $21.77. The company has a market cap of $2.52 billion, a PE ratio of 11.88 and a beta of 0.45. The firm’s 50 day simple moving average is $17.67 and its 200 day simple moving average is $17.27.
CVB Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.43%. CVB Financial’s payout ratio is 52.63%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Wedbush dropped their target price on shares of CVB Financial from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Stephens raised their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $20.00 to $22.00 in a report on Wednesday. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.25.
View Our Latest Stock Analysis on CVB Financial
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.
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