Credit Suisse AG lessened its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,064 shares of the financial services provider’s stock after selling 11,374 shares during the quarter. Credit Suisse AG’s holdings in CVB Financial were worth $3,790,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of CVB Financial by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,269,707 shares of the financial services provider’s stock valued at $46,233,000 after buying an additional 26,165 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in CVB Financial during the 3rd quarter worth approximately $356,000. American Century Companies Inc. acquired a new stake in CVB Financial during the 3rd quarter worth approximately $222,000. IndexIQ Advisors LLC raised its holdings in CVB Financial by 11.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 20,353 shares of the financial services provider’s stock worth $415,000 after buying an additional 2,039 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of CVB Financial by 18.9% in the third quarter. Handelsbanken Fonder AB now owns 30,211 shares of the financial services provider’s stock valued at $615,000 after purchasing an additional 4,800 shares during the last quarter. 69.21% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Monday, January 3rd.
Shares of NASDAQ CVBF opened at $23.70 on Friday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 15.10 and a beta of 0.45. The firm’s fifty day moving average is $22.11 and its 200 day moving average is $20.74. CVB Financial Corp. has a 52 week low of $18.72 and a 52 week high of $25.00.
CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 26th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $114.78 million for the quarter, compared to analysts’ expectations of $116.24 million. CVB Financial had a net margin of 45.41% and a return on equity of 10.34%. CVB Financial’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 EPS. As a group, equities analysts predict that CVB Financial Corp. will post 1.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 12th. Investors of record on Wednesday, December 29th were issued a $0.18 dividend. The ex-dividend date was Tuesday, December 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.04%. CVB Financial’s payout ratio is 45.86%.
In related news, CAO Francene Lapoint sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $23.39, for a total value of $116,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.70% of the stock is owned by corporate insiders.
CVB Financial Profile
CVB Financial Corp. is a bank holding company, which engages in the provision of relationship-based banking products, services, and solutions for small to mid-sized companies, real estate investors, non-profit organizations, professionals, and other individuals through its subsidiary, Citizens Business Bank.
Want to see what other hedge funds are holding CVBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVB Financial Corp. (NASDAQ:CVBF).
Want More Great Investing Ideas?