28,063 Shares in CVB Financial Corporation $CVBF Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd acquired a new position in CVB Financial Corporation (NASDAQ:CVBF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,063 shares of the financial services provider’s stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVBF. Aster Capital Management DIFC Ltd grew its stake in CVB Financial by 8,940.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC bought a new position in CVB Financial in the fourth quarter worth approximately $42,000. Larson Financial Group LLC grew its stake in CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in CVB Financial by 26.8% in the third quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 854 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in CVB Financial in the second quarter worth approximately $103,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Up 1.9%

Shares of NASDAQ CVBF opened at $21.24 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.75 billion, a PE ratio of 13.97 and a beta of 0.66. The stock’s fifty day simple moving average is $20.36 and its two-hundred day simple moving average is $19.91. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $21.63.

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $23.00 price objective on shares of CVB Financial in a research note on Tuesday. Piper Sandler increased their price objective on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.13.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. bought 25,187 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average price of $19.85 per share, with a total value of $499,961.95. Following the transaction, the director owned 846,308 shares of the company’s stock, valued at $16,799,213.80. The trade was a 3.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.40% of the company’s stock.

CVB Financial Company Profile

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.