CVB Financial Corporation $CVBF Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 12.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 349,965 shares of the financial services provider’s stock after purchasing an additional 39,652 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.20% of CVB Financial worth $7,892,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Jupiter Topco LLC acquired a new stake in shares of CVB Financial during the 2nd quarter worth about $1,710,000. Louisiana State Employees Retirement System purchased a new stake in CVB Financial in the 1st quarter valued at about $1,096,000. Bessemer Group Inc. lifted its position in CVB Financial by 34.1% in the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock valued at $28,439,000 after buying an additional 372,732 shares during the last quarter. Bank of America Corp DE lifted its position in CVB Financial by 28.1% in the first quarter. Bank of America Corp DE now owns 925,555 shares of the financial services provider’s stock valued at $17,947,000 after buying an additional 202,857 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in CVB Financial during the second quarter worth about $579,285,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

CVBF has been the subject of several research analyst reports. DA Davidson raised their price target on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Stephens raised CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price for the company in a research report on Thursday, August 6th. Finally, Piper Sandler boosted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.25.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $22.62 on Tuesday. The stock has a market cap of $3.98 billion, a P/E ratio of 15.60 and a beta of 0.64. The business’s fifty day simple moving average is $22.63 and its 200-day simple moving average is $21.00. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $23.41. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $179.43 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.36 earnings per share. As a group, equities analysts predict that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, July 9th. CVB Financial’s dividend payout ratio is presently 55.17%.

Insider Buying and Selling

In other news, Director Brien Raymond V. O. III bought 20,000 shares of CVB Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average price of $22.77 per share, with a total value of $455,400.00. Following the completion of the acquisition, the director directly owned 85,780 shares in the company, valued at $1,953,210.60. The trade was a 30.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Harvey sold 40,000 shares of CVB Financial stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the completion of the transaction, the chief operating officer owned 98,149 shares of the company’s stock, valued at $2,251,538.06. This represents a 28.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.40% of the company’s stock.

CVB Financial Company 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.