D.A. Davidson & CO. Purchases Shares of 16,186 CVB Financial Co. (CVBF)

D.A. Davidson & CO. purchased a new stake in shares of CVB Financial Co. (NASDAQ:CVBF) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,186 shares of the financial services provider’s stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Prudential Financial Inc. boosted its position in CVB Financial by 1.6% during the first quarter. Prudential Financial Inc. now owns 172,163 shares of the financial services provider’s stock valued at $3,898,000 after acquiring an additional 2,700 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of CVB Financial by 37.1% during the first quarter. Victory Capital Management Inc. now owns 15,134 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 4,093 shares during the period. SG Americas Securities LLC raised its holdings in shares of CVB Financial by 4.9% during the first quarter. SG Americas Securities LLC now owns 120,311 shares of the financial services provider’s stock valued at $2,724,000 after purchasing an additional 5,662 shares during the period. Comerica Bank raised its holdings in shares of CVB Financial by 2.5% during the first quarter. Comerica Bank now owns 144,137 shares of the financial services provider’s stock valued at $3,193,000 after purchasing an additional 3,479 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of CVB Financial during the fourth quarter valued at about $299,000. 70.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CVBF opened at $23.14 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.02. CVB Financial Co. has a 1-year low of $19.58 and a 1-year high of $25.49. The stock has a market cap of $2.55 billion, a PE ratio of 21.63, a P/E/G ratio of 1.92 and a beta of 1.39.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, April 18th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. CVB Financial had a net margin of 32.71% and a return on equity of 11.61%. The company had revenue of $83.44 million for the quarter, compared to analyst estimates of $82.03 million. During the same quarter in the prior year, the business posted $0.26 EPS. equities analysts anticipate that CVB Financial Co. will post 1.27 EPS for the current year.

In related news, CEO Christopher D. Myers sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $23.85, for a total value of $477,000.00. Following the sale, the chief executive officer now owns 327,336 shares in the company, valued at approximately $7,806,963.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jr. Rodrigo Guerra bought 5,000 shares of the stock in a transaction that occurred on Monday, April 30th. The stock was acquired at an average price of $22.46 per share, for a total transaction of $112,300.00. Following the acquisition, the director now directly owns 11,000 shares in the company, valued at $247,060. The disclosure for this purchase can be found here. Corporate insiders own 6.90% of the company’s stock.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Zacks Investment Research lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $26.00 price objective on shares of CVB Financial in a report on Thursday, March 1st. Sandler O’Neill reiterated a “hold” rating and set a $24.00 price objective on shares of CVB Financial in a report on Thursday, March 29th. Finally, Hovde Group set a $25.00 price objective on shares of CVB Financial and gave the company a “hold” rating in a report on Wednesday, February 28th. Eight analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $24.00.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, trust, and investment services for small to mid-sized businesses and individuals. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers various deposit products, including checking, savings, money market, and time certificates of deposit for business and personal accounts, as well as serves as a federal tax depository for business customers.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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