32,551 CVB Financial Corporation $CVBF Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 0.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,496,597 shares of the financial services provider’s stock after selling 32,551 shares during the quarter. CVB Financial makes up 1.0% of Parallel Advisors LLC’s portfolio, making the stock its 15th largest position. Parallel Advisors LLC’s holdings in CVB Financial were worth $75,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVBF. Jupiter Topco LLC purchased a new stake in shares of CVB Financial during the second quarter worth about $1,710,000. Legal & General Group Plc purchased a new position in CVB Financial in the 2nd quarter worth approximately $8,705,000. Wellington Management Group LLP lifted its holdings in CVB Financial by 16.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,227,820 shares of the financial services provider’s stock worth $27,687,000 after purchasing an additional 173,984 shares in the last quarter. Bank of America Corp DE bought a new position in CVB Financial in the 2nd quarter worth approximately $20,882,000. Finally, Bessemer Group Inc. boosted its stake in CVB Financial by 34.1% in the 1st quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock worth $28,439,000 after purchasing an additional 372,732 shares during the period. 74.18% of the stock is owned by institutional investors.

CVB Financial Price Performance

NASDAQ CVBF traded down $0.12 during trading on Friday, hitting $22.74. 1,070,877 shares of the stock traded hands, compared to its average volume of 1,353,438. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. CVB Financial Corporation has a 12-month low of $18.10 and a 12-month high of $23.95. The firm has a 50-day simple moving average of $22.32 and a 200-day simple moving average of $21.23. The company has a market capitalization of $4.00 billion, a P/E ratio of 15.06 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). CVB Financial had a return on equity of 9.42% and a net margin of 29.54%. The firm had revenue of $195.56 million for the quarter, compared to analysts’ expectations of $192.80 million. During the same period last year, the company earned $0.38 earnings per share. As a group, analysts predict that CVB Financial Corporation will post 1.77 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. CVB Financial’s dividend payout ratio is presently 52.98%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. DA Davidson upped their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price for the company in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. Finally, Wall Street Zen upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

Insider Transactions at CVB Financial

In other CVB Financial news, Director Mike Maddox acquired 10,000 shares of the stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the transaction, the director directly owned 13,138 shares of the company’s stock, valued at $289,430.14. This trade represents a 318.67% 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. 6.40% of the stock is currently owned by insiders.

CVB Financial Profile

CVB Financial Corp. is a bank holding company headquartered in Ontario, California. Its principal subsidiary, Citizens Business Bank, provides banking and financial services to businesses, professionals, and individuals, with a focus on relationship-based commercial banking.

Citizens Business Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, equipment financing, treasury management, cash management, and international banking services.