Boston Trust Walden Corp grew its position in CVB Financial Corp. (NASDAQ:CVBF) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,182 shares of the financial services provider’s stock after acquiring an additional 6,698 shares during the period. Boston Trust Walden Corp owned about 0.30% of CVB Financial worth $8,852,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in CVBF. Capital Fund Management S.A. acquired a new stake in shares of CVB Financial during the 2nd quarter worth about $429,000. Prudential Financial Inc. lifted its stake in shares of CVB Financial by 0.7% during the 2nd quarter. Prudential Financial Inc. now owns 167,343 shares of the financial services provider’s stock worth $3,519,000 after buying an additional 1,190 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CVB Financial by 6.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 782,356 shares of the financial services provider’s stock worth $16,453,000 after buying an additional 47,168 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of CVB Financial during the 2nd quarter worth about $502,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of CVB Financial during the 2nd quarter worth about $2,051,000. 64.27% of the stock is owned by institutional investors.
In other CVB Financial news, CEO Christopher D. Myers sold 4,600 shares of CVB Financial stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $22.04, for a total value of $101,384.00. Following the completion of the sale, the chief executive officer now owns 229,557 shares in the company, valued at approximately $5,059,436.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is owned by insiders.
CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. CVB Financial had a net margin of 37.43% and a return on equity of 10.02%. The business had revenue of $129.26 million during the quarter, compared to analysts’ expectations of $121.72 million. During the same quarter in the previous year, the company earned $0.32 EPS. On average, sell-side analysts anticipate that CVB Financial Corp. will post 1.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Wednesday, October 2nd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Tuesday, October 1st. CVB Financial’s dividend payout ratio (DPR) is 58.06%.
A number of research firms have recently issued reports on CVBF. ValuEngine upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Monday, October 14th. BidaskClub upgraded shares of CVB Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.33.
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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