CVB Financial Corp. (NASDAQ:CVBF) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,813,290 shares of the financial services provider’s stock after purchasing an additional 58,774 shares during the period. American Century Companies Inc. owned 4.16% of CVB Financial worth $100,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC raised its holdings in CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,400 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of CVB Financial by 832.8% during the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,574 shares during the period. Innealta Capital LLC purchased a new stake in shares of CVB Financial during the second quarter worth about $38,000. Assetmark Inc. raised its holdings in CVB Financial by 141.5% in the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 5,038 shares in the last quarter. Finally, WBI Investments LLC acquired a new stake in CVB Financial during the second quarter valued at approximately $177,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Up 3.5 %

CVB Financial stock opened at $17.71 on Friday. CVB Financial Corp. has a 12-month low of $14.62 and a 12-month high of $21.77. The stock has a 50-day simple moving average of $17.89 and a 200 day simple moving average of $17.18. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 11.65 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $125.27 million during the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. As a group, sell-side analysts anticipate that CVB Financial Corp. will post 1.4 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, July 11th. CVB Financial’s dividend payout ratio is currently 52.63%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CVBF shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 target price (up from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Janney Montgomery Scott cut CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Stephens increased their price objective on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Wedbush lifted their target price on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.00.

Insider Activity at CVB Financial

In related news, Director George A. Borba, Jr. bought 4,610 shares of the company’s stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the acquisition, the director now owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, Director Kimberly H. Sheehy sold 2,961 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the sale, the director now owns 13,156 shares in the company, valued at $225,493.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director George A. Borba, Jr. acquired 4,610 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the completion of the acquisition, the director now owns 665,121 shares in the company, valued at $10,641,936. The disclosure for this purchase can be found here. 6.00% of the stock is owned by corporate insiders.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.