Bank of New York Mellon Corp Has $28.09 Million Position in CVB Financial Corporation $CVBF

Bank of New York Mellon Corp cut its stake in CVB Financial Corporation (NASDAQ:CVBF) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,419,306 shares of the financial services provider’s stock after selling 9,235 shares during the quarter. Bank of New York Mellon Corp’s holdings in CVB Financial were worth $28,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors grew its holdings in CVB Financial by 8.3% during the second quarter. World Investment Advisors now owns 30,586 shares of the financial services provider’s stock valued at $605,000 after purchasing an additional 2,353 shares during the period. Bessemer Group Inc. grew its holdings in shares of CVB Financial by 4.6% in the 2nd quarter. Bessemer Group Inc. now owns 846,204 shares of the financial services provider’s stock valued at $16,746,000 after buying an additional 36,839 shares during the period. Bolthouse Investments LLC increased its position in shares of CVB Financial by 3.1% in the 2nd quarter. Bolthouse Investments LLC now owns 59,320 shares of the financial services provider’s stock valued at $1,174,000 after buying an additional 1,796 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in CVB Financial by 0.8% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 99,285 shares of the financial services provider’s stock worth $1,965,000 after buying an additional 786 shares during the period. Finally, CWM LLC lifted its holdings in CVB Financial by 9.7% during the second quarter. CWM LLC now owns 8,954 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 795 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

CVBF has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods cut their price target on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Piper Sandler raised their price objective on shares of CVB Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

CVB Financial Stock Performance

Shares of CVBF stock opened at $18.86 on Friday. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $24.58. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 12.92 and a beta of 0.69. The firm’s 50-day moving average is $19.08 and its 200-day moving average is $19.38.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $128.58 million for the quarter, compared to the consensus estimate of $131.10 million. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%. Sell-side analysts predict that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Wednesday, October 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, October 1st. CVB Financial’s payout ratio is currently 54.79%.

Insider Activity

In related news, Director George A. Borba, Jr. bought 27,094 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $18.45 per share, for a total transaction of $499,884.30. Following the purchase, the director owned 745,782 shares in the company, valued at $13,759,677.90. This represents a 3.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anna Kan sold 11,000 shares of CVB Financial stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $20.35, for a total transaction of $223,850.00. Following the sale, the director directly owned 31,593 shares of the company’s stock, valued at $642,917.55. The trade was a 25.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.10% of the stock is owned by corporate insiders.

CVB Financial Company Profile

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.