Parallel Advisors LLC Sells 162,666 Shares of CVB Financial Corporation $CVBF

Parallel Advisors LLC trimmed its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,658,353 shares of the financial services provider’s stock after selling 162,666 shares during the period. CVB Financial comprises about 1.3% of Parallel Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Parallel Advisors LLC owned about 2.07% of CVB Financial worth $70,935,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVBF. Dimensional Fund Advisors LP raised its stake in CVB Financial by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock valued at $147,620,000 after purchasing an additional 331,307 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CVB Financial by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock worth $102,092,000 after purchasing an additional 67,563 shares during the period. HoldCo Asset Management LP boosted its stake in CVB Financial by 17,051.0% in the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after purchasing an additional 2,211,005 shares during the period. Victory Capital Management Inc. grew its holdings in CVB Financial by 3.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock valued at $37,784,000 after buying an additional 74,914 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in CVB Financial by 2.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock valued at $32,359,000 after buying an additional 39,771 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. acquired 25,187 shares of the stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the transaction, the director directly owned 846,308 shares of the company’s stock, valued at $16,799,213.80. This trade represents a 3.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brien Raymond V. O. III acquired 20,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were acquired at an average price of $22.77 per share, with a total value of $455,400.00. Following the transaction, the director directly owned 85,780 shares of the company’s stock, valued at $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 95,429 shares of company stock worth $1,955,178. 6.40% of the stock is owned by insiders.

CVB Financial Stock Performance

NASDAQ CVBF opened at $23.10 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.73. CVB Financial Corporation has a 1-year low of $17.94 and a 1-year high of $23.36. The business has a 50 day simple moving average of $21.84 and a two-hundred day simple moving average of $20.61. The stock has a market capitalization of $4.08 billion, a PE ratio of 15.93 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period last year, the company earned $0.36 earnings per share. On average, research analysts predict that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. CVB Financial’s dividend payout ratio is presently 55.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CVBF shares. Piper Sandler boosted their target price on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Stephens raised their target price on shares of CVB Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. DA Davidson raised their target price on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

CVB Financial Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.