CVB Financial Corp. (CVBF) Stake Decreased by Neuberger Berman Group LLC
Neuberger Berman Group LLC lowered its position in CVB Financial Corp. (NASDAQ:CVBF) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,870,311 shares of the financial services provider’s stock after selling 228,245 shares during the quarter. Neuberger Berman Group LLC owned about 7.14% of CVB Financial worth $190,225,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in CVB Financial by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 9,771,495 shares of the financial services provider’s stock worth $219,175,000 after buying an additional 365,996 shares during the period. Goldman Sachs Group Inc. increased its stake in CVB Financial by 7.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock worth $84,759,000 after buying an additional 274,617 shares during the period. Dimensional Fund Advisors LP increased its stake in CVB Financial by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,208,139 shares of the financial services provider’s stock worth $77,539,000 after buying an additional 8,238 shares during the period. Northern Trust Corp increased its stake in CVB Financial by 3.3% in the 2nd quarter. Northern Trust Corp now owns 2,361,525 shares of the financial services provider’s stock worth $52,969,000 after buying an additional 76,345 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in CVB Financial by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,356,634 shares of the financial services provider’s stock worth $52,860,000 after buying an additional 63,017 shares during the period. 69.37% of the stock is currently owned by institutional investors and hedge funds.
CVB Financial Corp. (NASDAQ CVBF) opened at $23.66 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02. CVB Financial Corp. has a 1-year low of $19.58 and a 1-year high of $25.49. The stock has a market cap of $2,615.12, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.35 and a beta of 1.50.
CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. CVB Financial had a net margin of 36.30% and a return on equity of 11.10%. The company had revenue of $81.78 million for the quarter, compared to analysts’ expectations of $81.78 million. During the same period in the prior year, the business earned $0.23 EPS. equities analysts anticipate that CVB Financial Corp. will post 1.06 earnings per share for the current year.
Several research firms recently commented on CVBF. Zacks Investment Research raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Piper Jaffray Companies reiterated a “hold” rating and set a $23.00 target price on shares of CVB Financial in a report on Friday, September 1st. Finally, ValuEngine cut shares of CVB Financial from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.20.
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CVB Financial Company Profile
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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