159,342 Shares in CVB Financial Corporation $CVBF Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the 3rd quarter, Holdings Channel reports. The firm purchased 159,342 shares of the financial services provider’s stock, valued at approximately $3,443,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of CVB Financial by 4.9% during the 3rd quarter. GAMMA Investing LLC now owns 9,981 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 462 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of CVB Financial by 40.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after buying an additional 695 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in CVB Financial by 7.5% in the first quarter. Gamco Investors INC. ET AL now owns 10,750 shares of the financial services provider’s stock valued at $208,000 after buying an additional 750 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of CVB Financial by 8.5% during the first quarter. Royal Bank of Canada now owns 21,755 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 1,704 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of CVB Financial by 16.9% in the second quarter. QRG Capital Management Inc. now owns 12,276 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,776 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

Insider Transactions at CVB Financial

In related news, Director Mike Maddox acquired 10,000 shares of CVB Financial stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $22.03 per share, for a total transaction of $220,300.00. Following the completion of the transaction, the director directly owned 13,138 shares in the company, valued at approximately $289,430.14. This represents a 318.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by company insiders.

CVB Financial Stock Down 0.5%

Shares of CVBF stock traded down $0.12 during trading hours on Friday, hitting $22.74. 1,070,877 shares of the company’s stock traded hands, compared to its average volume of 1,353,438. CVB Financial Corporation has a 12-month low of $18.10 and a 12-month high of $23.95. The stock’s fifty day simple moving average is $22.32 and its two-hundred day simple moving average is $21.23. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 15.06 and a beta of 0.68. The company has a quick ratio of 0.77, a current ratio of 0.75 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $195.56 million during the quarter, compared to analysts’ expectations of $192.80 million. CVB Financial had a return on equity of 9.42% and a net margin of 29.54%. During the same period last year, the firm posted $0.38 earnings per share. On average, analysts expect that CVB Financial Corporation will post 1.77 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, September 30th. CVB Financial’s payout ratio is presently 52.98%.

Analyst Upgrades and Downgrades

CVBF has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target for the company in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. DA Davidson raised their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, CVB Financial has a consensus rating of “Moderate Buy” and an average price target of $26.25.

CVB Financial Company Profile

CVB Financial Corp. is a bank holding company headquartered in Ontario, California. Its principal subsidiary, Citizens Business Bank, provides banking and financial services to businesses, professionals, and individuals, with a focus on relationship-based commercial banking.

Citizens Business Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, equipment financing, treasury management, cash management, and international banking services.