Comerica Bank Has $2.40 Million Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Comerica Bank lessened its position in CVB Financial Corp. (NASDAQ:CVBF) by 7.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 120,773 shares of the financial services provider’s stock after selling 10,335 shares during the period. Comerica Bank’s holdings in CVB Financial were worth $2,401,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in CVB Financial in the second quarter valued at approximately $25,000. Captrust Financial Advisors grew its stake in CVB Financial by 1,646.7% in the first quarter. Captrust Financial Advisors now owns 4,454 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 4,199 shares during the period. Royal Bank of Canada grew its stake in CVB Financial by 171.3% in the second quarter. Royal Bank of Canada now owns 8,850 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 5,588 shares during the period. Versor Investments LP acquired a new stake in CVB Financial in the second quarter valued at approximately $248,000. Finally, Squarepoint Ops LLC boosted its position in shares of CVB Financial by 35.2% during the second quarter. Squarepoint Ops LLC now owns 13,701 shares of the financial services provider’s stock valued at $282,000 after buying an additional 3,566 shares during the last quarter. 65.86% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CVBF opened at $20.65 on Thursday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 12.99 and a beta of 0.49. CVB Financial Corp. has a 12-month low of $18.07 and a 12-month high of $25.00. The business’s 50 day moving average is $20.20 and its 200 day moving average is $20.48.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Tuesday, October 19th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. CVB Financial had a return on equity of 10.55% and a net margin of 45.37%. The company had revenue of $113.78 million for the quarter, compared to analysts’ expectations of $117.73 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, analysts anticipate that CVB Financial Corp. will post 1.53 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 21st. Shareholders of record on Wednesday, October 6th were given a $0.18 dividend. The ex-dividend date was Tuesday, October 5th. This represents a $0.72 annualized dividend and a yield of 3.49%. CVB Financial’s dividend payout ratio is currently 45.28%.

Several research analysts recently issued reports on CVBF shares. Hovde Group raised CVB Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $22.00 to $23.00 in a research report on Thursday, August 5th. Zacks Investment Research cut CVB Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 29th.

CVB Financial Company Profile

CVB Financial Corp. is a bank holding company, which engages in the provision of relationship-based banking products, services, and solutions for small to mid-sized companies, real estate investors, non-profit organizations, professionals, and other individuals through its subsidiary, Citizens Business Bank.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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