Headlands Technologies LLC Acquires New Stake in CVB Financial Corp. (NASDAQ:CVBF)

Headlands Technologies LLC bought a new position in CVB Financial Corp. (NASDAQ:CVBF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,063 shares of the financial services provider’s stock, valued at approximately $122,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in CVB Financial during the 4th quarter valued at about $102,000. Federated Hermes Inc. grew its holdings in shares of CVB Financial by 262.7% during the fourth quarter. Federated Hermes Inc. now owns 47,677 shares of the financial services provider’s stock valued at $963,000 after buying an additional 34,531 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CVB Financial by 12.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,346 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 3,992 shares in the last quarter. Everence Capital Management Inc. raised its holdings in CVB Financial by 36.7% in the 4th quarter. Everence Capital Management Inc. now owns 21,560 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 5,790 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of CVB Financial in the 4th quarter worth $36,000. 74.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director George A. Borba, Jr. bought 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other CVB Financial news, CEO David A. Brager acquired 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the transaction, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George A. Borba, Jr. bought 59,601 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders acquired 63,601 shares of company stock worth $1,067,145 in the last three months. 6.00% of the stock is owned by company insiders.

CVB Financial Trading Down 0.1 %

NASDAQ CVBF opened at $16.46 on Tuesday. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 10.83 and a beta of 0.46. CVB Financial Corp. has a 12 month low of $10.66 and a 12 month high of $21.77. The company’s 50 day moving average is $16.96 and its two-hundred day moving average is $17.72.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $126.57 million for the quarter, compared to analysts’ expectations of $127.46 million. During the same quarter in the previous year, the company earned $0.42 EPS. CVB Financial’s revenue for the quarter was down 8.9% on a year-over-year basis. Sell-side analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.86%. CVB Financial’s dividend payout ratio is presently 52.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVBF shares. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research note on Monday, April 22nd. Wedbush reiterated a “neutral” rating and set a $19.00 price objective on shares of CVB Financial in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a report on Friday. Stephens restated an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, April 25th. Finally, StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.00.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.