Ameriprise Financial Inc. Purchases 6,849 Shares of CVB Financial Corporation (CVBF)

Ameriprise Financial Inc. boosted its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 550,986 shares of the financial services provider’s stock after buying an additional 6,849 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.50% of CVB Financial Corporation worth $12,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of CVB Financial Corporation by 1.0% in the 2nd quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 85 shares in the last quarter. Gamble Jones Investment Counsel increased its position in CVB Financial Corporation by 0.6% in the 2nd quarter. Gamble Jones Investment Counsel now owns 53,660 shares of the financial services provider’s stock valued at $1,204,000 after buying an additional 300 shares in the last quarter. Aperio Group LLC increased its position in CVB Financial Corporation by 1.1% in the 2nd quarter. Aperio Group LLC now owns 28,853 shares of the financial services provider’s stock valued at $647,000 after buying an additional 328 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in CVB Financial Corporation by 1.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 22,980 shares of the financial services provider’s stock valued at $508,000 after buying an additional 410 shares in the last quarter. Finally, Strs Ohio increased its position in CVB Financial Corporation by 12.5% in the 2nd quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock valued at $100,000 after buying an additional 500 shares in the last quarter. 67.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Anna Kan acquired 4,660 shares of CVB Financial Corporation stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average price of $21.50 per share, for a total transaction of $100,190.00. Following the transaction, the director now owns 17,660 shares of the company’s stock, valued at $379,690. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.00% of the stock is owned by insiders.

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Shares of CVB Financial Corporation (NASDAQ CVBF) opened at 23.26 on Wednesday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 23.12 and a beta of 1.57. CVB Financial Corporation has a one year low of $16.32 and a one year high of $25.25. The firm has a 50-day moving average of $22.18 and a 200 day moving average of $21.65.

CVB Financial Corporation (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $81.26 million during the quarter, compared to analysts’ expectations of $80.10 million. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, equities research analysts predict that CVB Financial Corporation will post $1.06 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Wednesday, October 4th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.41%. CVB Financial Corporation’s dividend payout ratio is currently 56.00%.

A number of brokerages have commented on CVBF. Zacks Investment Research raised CVB Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. Piper Jaffray Companies restated a “hold” rating and issued a $23.00 target price on shares of CVB Financial Corporation in a research note on Friday, September 1st. BidaskClub downgraded CVB Financial Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $23.00 target price on shares of CVB Financial Corporation in a research note on Friday, August 4th. Finally, Wedbush reiterated a “neutral” rating and issued a $22.00 price objective on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.60.

CVB Financial Corporation Company Profile

CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.

Institutional Ownership by Quarter for CVB Financial Corporation (NASDAQ:CVBF)

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