Fisher Asset Management LLC increased its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 29.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 169,292 shares of the financial services provider’s stock after buying an additional 38,106 shares during the period. Fisher Asset Management LLC owned about 0.15% of CVB Financial Corporation worth $3,797,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cutler Capital Management LLC bought a new position in CVB Financial Corporation during the first quarter worth $120,000. Bank of Montreal Can boosted its position in CVB Financial Corporation by 8.6% in the first quarter. Bank of Montreal Can now owns 8,161 shares of the financial services provider’s stock worth $180,000 after buying an additional 649 shares during the last quarter. State of Alaska Department of Revenue boosted its position in CVB Financial Corporation by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 11,180 shares of the financial services provider’s stock worth $246,000 after buying an additional 310 shares during the last quarter. Russell Investments Group Ltd. bought a new position in CVB Financial Corporation during the fourth quarter worth $251,000. Finally, OppenheimerFunds Inc. bought a new position in CVB Financial Corporation during the first quarter worth $253,000. Hedge funds and other institutional investors own 67.92% of the company’s stock.
Shares of CVB Financial Corporation (NASDAQ:CVBF) opened at 21.88 on Friday. The stock has a 50 day moving average of $21.97 and a 200 day moving average of $22.14. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 22.33 and a beta of 1.53. CVB Financial Corporation has a 52-week low of $16.11 and a 52-week high of $24.63.
CVB Financial Corporation (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $81.26 million for the quarter, compared to the consensus estimate of $80.10 million. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.79%. During the same quarter last year, the firm posted $0.23 earnings per share. On average, equities research analysts expect that CVB Financial Corporation will post $1.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, July 6th were issued a $0.14 dividend. This is an increase from CVB Financial Corporation’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.56%. CVB Financial Corporation’s dividend payout ratio (DPR) is presently 56.00%.
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A number of research analysts have weighed in on the stock. BidaskClub cut shares of CVB Financial Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research upgraded shares of CVB Financial Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, June 28th. Wedbush reiterated a “neutral” rating and issued a $22.00 target price on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods set a $23.00 target price on shares of CVB Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, July 4th. Finally, Piper Jaffray Companies dropped their target price on shares of CVB Financial Corporation from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $21.67.
In related news, EVP David A. Brager sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $22.13, for a total value of $44,260.00. Following the transaction, the executive vice president now owns 43,013 shares of the company’s stock, valued at $951,877.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.80% of the company’s stock.
About CVB Financial Corporation
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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