CVB Financial Corporation $CVBF Shares Bought by UBS Group AG

UBS Group AG boosted its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 25.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 161,339 shares of the financial services provider’s stock after purchasing an additional 32,499 shares during the period. UBS Group AG owned approximately 0.12% of CVB Financial worth $3,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVBF. Royal Bank of Canada grew its position in CVB Financial by 28.7% during the 1st quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 8,432 shares during the period. AQR Capital Management LLC grew its position in CVB Financial by 36.6% during the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 12,992 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CVB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock worth $1,456,000 after purchasing an additional 3,442 shares during the period. Jones Financial Companies Lllp grew its position in CVB Financial by 848.1% during the 1st quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 13,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CVB Financial by 9.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock valued at $8,458,000 after acquiring an additional 38,250 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVBF has been the topic of a number of analyst reports. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Piper Sandler raised their target price on CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, CVB Financial presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Insiders Place Their Bets

In related news, Director George A. Borba, Jr. purchased 50,242 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $19.90 per share, with a total value of $999,815.80. Following the purchase, the director owned 796,024 shares of the company’s stock, valued at $15,840,877.60. This represents a 6.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

CVB Financial Price Performance

NASDAQ:CVBF opened at $20.35 on Tuesday. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $21.48. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3.59 billion, a PE ratio of 13.39 and a beta of 0.67. The stock’s 50-day moving average price is $19.89 and its 200-day moving average price is $19.73.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.The firm had revenue of $132.12 million for the quarter, compared to analysts’ expectations of $162.29 million. During the same period last year, the firm earned $0.36 EPS. As a group, equities analysts expect that CVB Financial Corporation will post 1.56 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. CVB Financial’s dividend payout ratio (DPR) is currently 52.63%.

About CVB Financial

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.