iSAM Funds UK Ltd Takes $886,000 Position in CVB Financial Corporation $CVBF

iSAM Funds UK Ltd acquired a new position in shares of CVB Financial Corporation (NASDAQ:CVBF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 39,300 shares of the financial services provider’s stock, valued at approximately $886,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd raised its holdings in shares of CVB Financial by 8,940.9% in the 4th 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 during the period. Kestra Advisory Services LLC bought a new position in CVB Financial during the fourth quarter worth about $42,000. Nykredit A S bought a new position in CVB Financial during the second quarter worth about $43,000. Larson Financial Group LLC increased its position in CVB Financial by 288.9% during the fourth 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 during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after buying an additional 695 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVBF has been the topic of several research analyst reports. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Wednesday, July 1st. DA Davidson increased their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Piper Sandler raised their price target on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.25.

Insider Transactions at CVB Financial

In other news, Director Brien Raymond V. O. III purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average cost of $22.77 per share, with a total value of $455,400.00. Following the acquisition, the director owned 85,780 shares in the company, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David C. 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 value of $917,600.00. Following the sale, the chief operating officer directly owned 98,149 shares of the company’s stock, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.40% of the stock is owned by corporate insiders.

CVB Financial Stock Up 1.9%

Shares of CVBF opened at $22.29 on Thursday. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $23.41. The firm has a market cap of $3.92 billion, a P/E ratio of 15.37 and a beta of 0.64. The firm’s 50-day simple moving average is $22.62 and its 200 day simple moving average is $20.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $179.43 million during the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same period in the prior year, the company earned $0.36 earnings per share. On average, analysts forecast that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. CVB Financial’s dividend payout ratio (DPR) is 55.17%.

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.