UBS Group AG Raises Position in CVB Financial Corporation $CVBF

UBS Group AG boosted its stake in CVB Financial Corporation (NASDAQ:CVBF) by 25.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 161,339 shares of the financial services provider’s stock after buying an additional 32,499 shares during the quarter. UBS Group AG’s holdings in CVB Financial were worth $3,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVBF. Clifford Capital Partners LLC lifted its stake in CVB Financial by 3,800.6% in the 3rd quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock valued at $12,581,000 after buying an additional 648,229 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in CVB Financial in the 2nd quarter valued at about $5,636,000. Bessemer Group Inc. lifted its stake in CVB Financial by 29.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock valued at $20,720,000 after buying an additional 249,490 shares in the last quarter. Jane Street Group LLC purchased a new position in CVB Financial in the 1st quarter valued at about $4,461,000. Finally, Citadel Advisors LLC lifted its stake in CVB Financial by 866.6% in the 3rd quarter. Citadel Advisors LLC now owns 228,122 shares of the financial services provider’s stock valued at $4,314,000 after buying an additional 204,522 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CVBF shares. Weiss Ratings raised shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Piper Sandler raised their target price on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, CVB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. bought 50,242 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $19.90 per share, with a total value of $999,815.80. Following the purchase, the director directly owned 796,024 shares of the company’s stock, valued at $15,840,877.60. This trade represents a 6.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.40% of the stock is owned by company insiders.

CVB Financial Stock Performance

CVBF opened at $20.35 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50 day simple moving average is $19.89 and its two-hundred day simple moving average is $19.73. CVB Financial Corporation has a 1-year low of $17.94 and a 1-year high of $21.48. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 13.39 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The business had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. During the same period last year, the company posted $0.36 EPS. Analysts expect that CVB Financial Corporation will post 1.56 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, April 1st. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

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.