Odyssean LLC Buys 30,078 Shares of CVB Financial Corporation $CVBF

Odyssean LLC lifted its stake in CVB Financial Corporation (NASDAQ:CVBF) by 168.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,984 shares of the financial services provider’s stock after buying an additional 30,078 shares during the period. Odyssean LLC’s holdings in CVB Financial were worth $1,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its position in shares of CVB Financial by 8,940.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,967 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of CVB Financial in the fourth quarter valued at $42,000. Larson Financial Group LLC raised its stake in shares of CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,791 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in CVB Financial by 40.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 695 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in CVB Financial in the second quarter worth $77,000. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $22.40 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 15.45 and a beta of 0.65. CVB Financial Corporation has a 1-year low of $17.94 and a 1-year high of $23.41. The firm’s 50-day moving average price is $22.53 and its two-hundred day moving average price is $20.92.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $179.43 million during the quarter, compared to the consensus estimate of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same quarter last year, the firm posted $0.36 EPS. On average, equities analysts predict that CVB Financial Corporation will post 1.72 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were given a $0.20 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.80 annualized dividend and a yield of 3.6%. CVB Financial’s payout ratio is presently 55.17%.

Wall Street Analysts Forecast Growth

CVBF has been the topic of several analyst reports. Raymond James Financial raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Wednesday, July 1st. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a research report on Thursday, August 6th. DA Davidson upped their target price on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Piper Sandler increased their price target on shares of CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.25.

Insider Buying and Selling at CVB Financial

In other news, COO David C. Harvey sold 40,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the sale, the chief operating officer owned 98,149 shares in the company, valued at approximately $2,251,538.06. This represents a 28.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brien Raymond V. O. III bought 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average price of $22.77 per share, with a total value of $455,400.00. Following the completion of the purchase, the director owned 85,780 shares of the company’s stock, valued at $1,953,210.60. This represents a 30.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 6.40% of the company’s stock.

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.