KBC Group NV Sells 3,344 Shares of CVB Financial Corporation $CVBF

KBC Group NV reduced its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 46.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,887 shares of the financial services provider’s stock after selling 3,344 shares during the period. KBC Group NV’s holdings in CVB Financial were worth $77,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC bought a new stake in CVB Financial in the 1st quarter valued at approximately $27,000. Brooklyn Investment Group lifted its position in shares of CVB Financial by 240,700.0% in the first quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 2,407 shares in the last quarter. Quarry LP lifted its position in shares of CVB Financial by 877.3% in the first quarter. Quarry LP now owns 3,010 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 2,702 shares in the last quarter. GAMMA Investing LLC boosted its holdings in CVB Financial by 13.5% during the second quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 685 shares during the last quarter. Finally, Maseco LLP bought a new position in CVB Financial in the second quarter valued at $116,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. purchased 27,094 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $18.45 per share, for a total transaction of $499,884.30. Following the purchase, the director owned 745,782 shares in the company, valued at approximately $13,759,677.90. The trade was a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anna Kan sold 11,000 shares of CVB Financial stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total transaction of $223,850.00. Following the transaction, the director directly owned 31,593 shares of the company’s stock, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a research report on Monday, November 17th. Piper Sandler upped their target price on CVB Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, Wall Street Zen downgraded CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.33.

CVB Financial Price Performance

CVB Financial stock opened at $19.47 on Monday. The company’s 50-day moving average is $18.93 and its 200-day moving average is $19.38. The firm has a market capitalization of $2.66 billion, a PE ratio of 13.34 and a beta of 0.69. CVB Financial Corporation has a fifty-two week low of $16.01 and a fifty-two week high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $128.58 million during the quarter, compared to analysts’ expectations of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. As a group, analysts expect that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Wednesday, October 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. CVB Financial’s payout ratio is presently 54.79%.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.