Goldman Sachs Group Inc. boosted its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,047,104 shares of the financial services provider’s stock after buying an additional 137,543 shares during the period. Goldman Sachs Group Inc. owned approximately 3.67% of CVB Financial worth $95,350,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of CVB Financial by 2.2% in the fourth quarter. Swiss National Bank now owns 176,400 shares of the financial services provider’s stock worth $4,156,000 after buying an additional 3,800 shares during the period. Comerica Bank boosted its position in CVB Financial by 8.9% during the 4th quarter. Comerica Bank now owns 140,658 shares of the financial services provider’s stock valued at $3,388,000 after acquiring an additional 11,449 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in CVB Financial during the 3rd quarter valued at $670,000. Victory Capital Management Inc. boosted its position in CVB Financial by 36.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,082 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 2,698 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in CVB Financial by 11.7% during the 3rd quarter. California Public Employees Retirement System now owns 131,172 shares of the financial services provider’s stock valued at $3,170,000 after acquiring an additional 13,772 shares in the last quarter. 69.97% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on CVBF shares. Zacks Investment Research raised CVB Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday, March 5th. Sandler O’Neill reiterated a “hold” rating and set a $24.00 price objective on shares of CVB Financial in a research note on Thursday, January 4th. BidaskClub upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 price target on shares of CVB Financial in a research note on Thursday, March 1st. Finally, Hovde Group set a $25.00 price objective on CVB Financial and gave the stock a “hold” rating in a report on Wednesday, February 28th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $24.17.
In other news, CEO Christopher D. Myers sold 20,000 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $23.85, for a total transaction of $477,000.00. Following the completion of the sale, the chief executive officer now owns 327,336 shares in the company, valued at $7,806,963.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is currently owned by corporate insiders.
Shares of NASDAQ CVBF opened at $22.22 on Friday. CVB Financial Corp. has a 52-week low of $19.58 and a 52-week high of $25.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $2,494.02, a price-to-earnings ratio of 20.77, a PEG ratio of 1.84 and a beta of 1.38.
CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. CVB Financial had a net margin of 31.70% and a return on equity of 11.06%. The firm had revenue of $83.86 million during the quarter, compared to the consensus estimate of $82.00 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. analysts predict that CVB Financial Corp. will post 1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Thursday, April 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.52%. CVB Financial’s dividend payout ratio (DPR) is 52.34%.
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About CVB Financial
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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