Odyssean LLC Has $1.08 Million Position in CVB Financial Corporation $CVBF

Odyssean LLC increased its stake in CVB Financial Corporation (NASDAQ:CVBF) by 168.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,984 shares of the financial services provider’s stock after purchasing an additional 30,078 shares during the period. Odyssean LLC’s holdings in CVB Financial were worth $1,082,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd boosted its position in CVB Financial by 8,940.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of CVB Financial in the 4th quarter valued at $42,000. Larson Financial Group LLC raised its position in shares of CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 1,791 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of CVB Financial by 40.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 695 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of CVB Financial during the second quarter valued at $77,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVBF has been the topic of several recent research reports. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Wednesday, July 1st. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a research report on Thursday, August 6th. DA Davidson raised their target price on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Piper Sandler lifted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Insider Buying and Selling

In other news, Director Brien Raymond V. O. III acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the acquisition, the director owned 85,780 shares in the company, valued at $1,953,210.60. This trade represents a 30.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO David C. Harvey sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the completion of the sale, the chief operating officer directly owned 98,149 shares of the company’s stock, valued at $2,251,538.06. The trade was a 28.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.40% of the stock is currently owned by insiders.

CVB Financial Stock Performance

CVBF stock opened at $22.40 on Thursday. The business’s fifty day moving average is $22.53 and its 200-day moving average is $20.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.94 billion, a P/E ratio of 15.45 and a beta of 0.65. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.41.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same period last year, the firm earned $0.36 earnings per share. Equities research analysts forecast that CVB Financial Corporation will post 1.72 EPS for the current year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 annualized dividend and a yield of 3.6%. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

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.