First Trust Advisors LP reduced its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 15.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,473 shares of the financial services provider’s stock after selling 32,095 shares during the period. First Trust Advisors LP owned approximately 0.16% of CVB Financial worth $4,145,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in CVB Financial by 3.9% in the second quarter. Vanguard Group Inc. now owns 9,771,495 shares of the financial services provider’s stock worth $219,175,000 after acquiring an additional 365,996 shares in the last quarter. Goldman Sachs Group Inc. grew its position in CVB Financial by 7.8% in the second quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock worth $84,759,000 after acquiring an additional 274,617 shares in the last quarter. Bank of America Corp DE grew its position in CVB Financial by 46.1% in the first quarter. Bank of America Corp DE now owns 301,748 shares of the financial services provider’s stock worth $6,666,000 after acquiring an additional 95,226 shares in the last quarter. Northern Trust Corp grew its position in CVB Financial by 3.3% in the second quarter. Northern Trust Corp now owns 2,361,525 shares of the financial services provider’s stock worth $52,969,000 after acquiring an additional 76,345 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in CVB Financial by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,356,634 shares of the financial services provider’s stock worth $52,860,000 after acquiring an additional 63,017 shares in the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.
CVB Financial Corporation (CVBF) traded up $0.29 during midday trading on Monday, reaching $24.82. 425,029 shares of the company’s stock traded hands, compared to its average volume of 378,606. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02. CVB Financial Corporation has a twelve month low of $19.58 and a twelve month high of $25.49. The stock has a market capitalization of $2,702.14, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.43 and a beta of 1.50.
CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. CVB Financial had a net margin of 35.60% and a return on equity of 10.89%. The business had revenue of $81.78 million during the quarter, compared to analyst estimates of $81.78 million. During the same period in the prior year, the business posted $0.23 earnings per share. equities analysts expect that CVB Financial Corporation will post 1.06 earnings per share for the current year.
Several brokerages recently issued reports on CVBF. Zacks Investment Research lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of CVB Financial in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.20.
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CVB Financial Profile
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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