Entropy Technologies LP Invests $676,000 in CVB Financial Corporation $CVBF

Entropy Technologies LP acquired a new stake in CVB Financial Corporation (NASDAQ:CVBF) in the 1st quarter, Holdings Channel reports. The firm acquired 34,864 shares of the financial services provider’s stock, valued at approximately $676,000.

A number of other institutional investors also recently modified their holdings of the stock. HoldCo Asset Management LP boosted its stake in CVB Financial by 17,051.0% during the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after acquiring an additional 2,211,005 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in CVB Financial by 71.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider’s stock worth $23,684,000 after purchasing an additional 507,228 shares during the period. Bernzott Capital Advisors bought a new stake in CVB Financial in the first quarter valued at $8,054,000. Bessemer Group Inc. increased its stake in CVB Financial by 34.1% in the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock valued at $28,439,000 after purchasing an additional 372,732 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in CVB Financial by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock valued at $147,620,000 after purchasing an additional 331,307 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVBF shares. Stephens increased their price objective on shares of CVB Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Wednesday, July 1st. Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. DA Davidson upped their price target on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Piper Sandler increased their price target on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CVB Financial has an average rating of “Moderate Buy” and an average target price of $25.75.

CVB Financial Stock Performance

Shares of CVBF stock opened at $22.83 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $21.65 and a two-hundred day simple moving average of $20.52. CVB Financial Corporation has a 12 month low of $17.94 and a 12 month high of $23.36. The firm has a market capitalization of $4.03 billion, a PE ratio of 15.74 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The business had revenue of $179.43 million during the quarter, compared to the consensus estimate of $184.62 million. During the same period last year, the business posted $0.36 earnings per share. Analysts forecast that CVB Financial Corporation will post 1.72 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, July 9th. CVB Financial’s dividend payout ratio is currently 55.17%.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. purchased 25,187 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $19.85 per share, with a total value of $499,961.95. Following the transaction, the director owned 846,308 shares in the company, valued at $16,799,213.80. The trade was a 3.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brien Raymond V. O. III purchased 20,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average price of $22.77 per share, with a total value of $455,400.00. Following the purchase, the director directly owned 85,780 shares in the company, valued at approximately $1,953,210.60. The trade was a 30.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 95,429 shares of company stock worth $1,955,178 in the last 90 days. 6.40% of the stock is currently owned by company insiders.

CVB Financial Company Profile

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.