AlphaCrest Capital Management LLC Makes New $709,000 Investment in CVB Financial Corp. (NASDAQ:CVBF)

AlphaCrest Capital Management LLC purchased a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 33,700 shares of the financial services provider’s stock, valued at approximately $709,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVBF. Toronto Dominion Bank bought a new position in CVB Financial during the fourth quarter valued at about $35,000. Oregon Public Employees Retirement Fund purchased a new stake in CVB Financial in the fourth quarter valued at approximately $39,000. Ellis Investment Partners LLC purchased a new stake in CVB Financial in the first quarter valued at approximately $56,000. PNC Financial Services Group Inc. raised its stake in CVB Financial by 21.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 601 shares in the last quarter. Finally, Strs Ohio raised its stake in CVB Financial by 144.0% in the fourth quarter. Strs Ohio now owns 6,100 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors own 63.83% of the company’s stock.

A number of brokerages recently weighed in on CVBF. BidaskClub downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, June 26th. Zacks Investment Research raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, FIG Partners downgraded shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. CVB Financial has a consensus rating of “Hold” and a consensus target price of $24.90.

In other news, Director Anna Kan sold 4,660 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $21.74, for a total value of $101,308.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher D. Myers sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $21.79, for a total transaction of $522,960.00. Following the completion of the transaction, the chief executive officer now owns 300,157 shares in the company, valued at approximately $6,540,421.03. The disclosure for this sale can be found here. Insiders have sold 147,660 shares of company stock worth $3,228,758 over the last three months. Insiders own 5.50% of the company’s stock.

Shares of CVBF stock traded up $0.09 during trading hours on Monday, hitting $21.12. 846,279 shares of the company’s stock were exchanged, compared to its average volume of 477,312. The stock has a market capitalization of $2.95 billion, a P/E ratio of 17.03, a PEG ratio of 1.49 and a beta of 1.08. CVB Financial Corp. has a 12-month low of $19.21 and a 12-month high of $24.97. The stock has a 50 day simple moving average of $21.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The firm had revenue of $125.84 million for the quarter, compared to the consensus estimate of $121.24 million. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. During the same period last year, the firm posted $0.32 earnings per share. On average, sell-side analysts anticipate that CVB Financial Corp. will post 1.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, July 2nd. CVB Financial’s dividend payout ratio (DPR) is presently 58.06%.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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