Victory Capital Management Inc. raised its position in CVB Financial Corporation (NASDAQ:CVBF) by 36.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,082 shares of the financial services provider’s stock after purchasing an additional 2,698 shares during the quarter. Victory Capital Management Inc.’s holdings in CVB Financial were worth $244,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new stake in CVB Financial during the 3rd quarter worth approximately $385,000. Piedmont Investment Advisors LLC purchased a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $497,000. The Manufacturers Life Insurance Company increased its position in shares of CVB Financial by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 79,856 shares of the financial services provider’s stock valued at $1,791,000 after purchasing an additional 1,495 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of CVB Financial in the 2nd quarter valued at approximately $225,000. Finally, Goldman Sachs Group Inc. increased its position in shares of CVB Financial by 7.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock valued at $84,759,000 after purchasing an additional 274,617 shares during the last quarter. Hedge funds and other institutional investors own 68.49% of the company’s stock.
A number of research analysts recently commented on the stock. ValuEngine downgraded shares of CVB Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of CVB Financial in a research report on Friday, October 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 target price on shares of CVB Financial in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.20.
Shares of CVB Financial Corporation (NASDAQ:CVBF) opened at $23.37 on Monday. The firm has a market cap of $2,574.37, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.31 and a beta of 1.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.69. CVB Financial Corporation has a 52 week low of $19.58 and a 52 week high of $25.25.
CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. The firm had revenue of $81.78 million during the quarter, compared to analysts’ expectations of $81.78 million. CVB Financial had a net margin of 35.60% and a return on equity of 10.89%. During the same quarter in the prior year, the business earned $0.23 EPS. analysts forecast that CVB Financial Corporation will post 1.07 earnings per share for the current year.
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About CVB Financial
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.
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