Profund Advisors LLC Acquires 1,655 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Profund Advisors LLC raised its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 14.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,478 shares of the financial services provider’s stock after acquiring an additional 1,655 shares during the period. Profund Advisors LLC’s holdings in CVB Financial were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVBF. Goldman Sachs Group Inc. lifted its position in CVB Financial by 104.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after purchasing an additional 1,994,369 shares during the period. Norges Bank purchased a new stake in CVB Financial during the 4th quarter valued at $29,134,000. Dimensional Fund Advisors LP lifted its holdings in shares of CVB Financial by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after buying an additional 816,176 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in shares of CVB Financial by 368.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock worth $14,559,000 after buying an additional 567,321 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of CVB Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock worth $317,014,000 after acquiring an additional 176,694 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kimberly H. Sheehy sold 2,961 shares of the 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 transaction, the director now directly owns 13,156 shares in the company, valued at approximately $225,493.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

CVB Financial Stock Up 0.5 %

Shares of CVB Financial stock opened at $17.73 on Friday. CVB Financial Corp. has a 52 week low of $14.62 and a 52 week high of $21.77. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.66 and a beta of 0.45. The stock’s 50-day simple moving average is $17.85 and its 200-day simple moving average is $17.23.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $125.27 million for the quarter, compared to the consensus estimate of $126.86 million. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. CVB Financial’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities analysts expect that CVB Financial Corp. will post 1.4 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, September 30th. CVB Financial’s dividend payout ratio is presently 52.63%.

Analysts Set New Price Targets

CVBF has been the topic of a number of recent research reports. Wedbush lowered their target price on CVB Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. Finally, Stephens lifted their price objective on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.75.

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.