SG Americas Securities LLC Sells 39,500 Shares of CVB Financial Corporation $CVBF

SG Americas Securities LLC cut its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 76.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,345 shares of the financial services provider’s stock after selling 39,500 shares during the quarter. SG Americas Securities LLC’s holdings in CVB Financial were worth $239,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CVBF. Aster Capital Management DIFC Ltd raised its stake in CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of CVB Financial in the 4th quarter worth $42,000. Larson Financial Group LLC grew its stake in shares of CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,791 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of CVB Financial in the 2nd quarter worth about $103,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of CVB Financial in the 4th quarter worth about $127,000. Institutional investors own 74.18% of the company’s stock.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. acquired 25,187 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $19.85 per share, with a total value of $499,961.95. Following the completion of the purchase, the director directly owned 846,308 shares in the company, valued at approximately $16,799,213.80. This trade represents a 3.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is currently owned by insiders.

CVB Financial Trading Up 0.5%

CVBF stock opened at $22.47 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.33. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 14.78 and a beta of 0.65. The firm’s fifty day simple moving average is $21.00 and its two-hundred day simple moving average is $20.19.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The business had revenue of $132.12 million for the quarter, compared to the consensus estimate of $162.29 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, analysts anticipate that CVB Financial Corporation will post 1.63 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, July 9th. CVB Financial’s dividend payout ratio is 52.63%.

Wall Street Analyst Weigh In

CVBF has been the topic of several recent research reports. Raymond James Financial upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Wednesday, July 1st. Piper Sandler boosted their price objective on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b-)” rating on shares of CVB Financial in a research report on Wednesday. Finally, Stephens restated an “equal weight” rating and set a $23.00 price objective on shares of CVB Financial in a research report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, CVB Financial currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

About CVB Financial

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.