CVB Financial Corporation (CVBF) Position Cut by Champlain Investment Partners LLC
Champlain Investment Partners LLC reduced its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,344,750 shares of the financial services provider’s stock after selling 206,440 shares during the period. Champlain Investment Partners LLC owned 2.17% of CVB Financial Corporation worth $53,765,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in CVBF. Gamble Jones Investment Counsel increased its stake in CVB Financial Corporation by 0.7% in the third quarter. Gamble Jones Investment Counsel now owns 52,718 shares of the financial services provider’s stock worth $928,000 after buying an additional 375 shares during the period. Municipal Employees Retirement System of Michigan increased its position in CVB Financial Corporation by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 22,260 shares of the financial services provider’s stock valued at $392,000 after buying an additional 380 shares during the period. Victory Capital Management Inc. increased its position in CVB Financial Corporation by 8.7% in the third quarter. Victory Capital Management Inc. now owns 6,751 shares of the financial services provider’s stock valued at $119,000 after buying an additional 540 shares during the period. Commonwealth Equity Services Inc increased its position in CVB Financial Corporation by 0.4% in the third quarter. Commonwealth Equity Services Inc now owns 132,113 shares of the financial services provider’s stock valued at $2,327,000 after buying an additional 583 shares during the period. Finally, Amalgamated Bank increased its position in CVB Financial Corporation by 5.4% in the second quarter. Amalgamated Bank now owns 12,018 shares of the financial services provider’s stock valued at $204,000 after buying an additional 615 shares during the period. 66.76% of the stock is owned by institutional investors.
CVB Financial Corporation (NASDAQ:CVBF) traded up 0.09% during mid-day trading on Thursday, reaching $23.50. The company’s stock had a trading volume of 268,808 shares. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.00 and a beta of 1.47. The firm has a 50-day moving average of $22.78 and a 200 day moving average of $19.65. CVB Financial Corporation has a 1-year low of $14.76 and a 1-year high of $23.75.
CVB Financial Corporation (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. CVB Financial Corporation had a return on equity of 10.25% and a net margin of 33.74%. During the same quarter in the previous year, the company earned $0.27 earnings per share. Equities analysts expect that CVB Financial Corporation will post $1.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 23rd. Investors of record on Friday, January 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, January 4th. This represents a $0.48 annualized dividend and a yield of 2.04%. CVB Financial Corporation’s dividend payout ratio is currently 51.61%.
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Several research firms have recently issued reports on CVBF. Zacks Investment Research downgraded CVB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, January 24th. Hovde Group downgraded shares of CVB Financial Corporation from a “market perform” rating to an “underperform” rating and set a $19.00 target price for the company. in a research note on Monday, November 21st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.
In related news, CEO Christopher D. Myers sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $23.21, for a total transaction of $580,250.00. Following the completion of the transaction, the chief executive officer now owns 368,694 shares of the company’s stock, valued at $8,557,387.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Jacoby sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $20.79, for a total value of $124,740.00. Following the transaction, the director now directly owns 14,012 shares of the company’s stock, valued at approximately $291,309.48. The disclosure for this sale can be found here. Insiders have sold 81,000 shares of company stock valued at $1,817,990 in the last ninety days. Company insiders own 7.80% of the company’s stock.
CVB Financial Corporation Company Profile
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
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