Virtu Financial LLC Invests $201,000 in CVB Financial Corp. (CVBF)
Virtu Financial LLC bought a new position in shares of CVB Financial Corp. (NASDAQ:CVBF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,532 shares of the financial services provider’s stock, valued at approximately $201,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Gradient Investments LLC bought a new stake in CVB Financial in the fourth quarter valued at about $172,000. Teacher Retirement System of Texas bought a new stake in CVB Financial in the third quarter valued at about $207,000. Trilogy Capital Inc. bought a new stake in CVB Financial in the fourth quarter valued at about $210,000. Jane Street Group LLC bought a new stake in CVB Financial in the third quarter valued at about $243,000. Finally, Victory Capital Management Inc. increased its holdings in CVB Financial by 36.5% in the third quarter. Victory Capital Management Inc. now owns 10,082 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 2,698 shares during the last quarter. Institutional investors own 69.97% of the company’s stock.
In other CVB Financial news, CEO Christopher D. Myers sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $23.85, for a total value of $477,000.00. Following the completion of the transaction, the chief executive officer now directly owns 327,336 shares of the company’s stock, valued at $7,806,963.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.00% of the stock is currently owned by insiders.
CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. CVB Financial had a return on equity of 11.06% and a net margin of 31.70%. The firm had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $82.00 million. During the same period in the previous year, the firm earned $0.25 earnings per share. equities research analysts predict that CVB Financial Corp. will post 1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, April 5th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.41%. CVB Financial’s payout ratio is 58.95%.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded CVB Financial from a “buy” rating to a “hold” rating in a report on Monday, December 4th. BidaskClub upgraded CVB Financial from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Sandler O’Neill reiterated a “hold” rating and issued a $24.00 price objective on shares of CVB Financial in a report on Thursday, January 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 price objective on shares of CVB Financial in a report on Thursday, March 1st. Finally, Hovde Group set a $25.00 price objective on CVB Financial and gave the company a “hold” rating in a report on Wednesday, February 28th. Eight equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $24.33.
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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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