Blue Trust Inc. Invests $418,000 in CVB Financial Corp. (NASDAQ:CVBF)

Blue Trust Inc. bought a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,433 shares of the financial services provider’s stock, valued at approximately $418,000.

Several other institutional investors have also added to or reduced their stakes in CVBF. Raymond James & Associates raised its stake in shares of CVB Financial by 2.5% in the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after buying an additional 854 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CVB Financial by 8.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,791 shares of the financial services provider’s stock valued at $1,571,000 after purchasing an additional 5,867 shares in the last quarter. Cerity Partners LLC boosted its position in shares of CVB Financial by 6.7% in the fourth quarter. Cerity Partners LLC now owns 56,144 shares of the financial services provider’s stock worth $1,134,000 after purchasing an additional 3,502 shares during the period. Louisiana State Employees Retirement System purchased a new stake in CVB Financial in the 4th quarter worth $1,337,000. Finally, Strs Ohio purchased a new position in shares of CVB Financial in the fourth quarter valued at about $36,000. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Stock Up 1.7 %

Shares of NASDAQ CVBF traded up $0.29 during trading hours on Friday, hitting $17.08. 572,118 shares of the stock were exchanged, compared to its average volume of 830,648. CVB Financial Corp. has a 12 month low of $14.62 and a 12 month high of $21.77. The firm has a fifty day moving average price of $17.47 and a 200-day moving average price of $17.12. The company has a market cap of $2.39 billion, a PE ratio of 11.24 and a beta of 0.47.

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

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Thursday, July 11th. CVB Financial’s payout ratio is currently 52.63%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a report on Monday, April 22nd. Wedbush lifted their target price on CVB Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Stephens increased their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Janney Montgomery Scott downgraded shares of CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $20.00 target price (up previously from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.00.

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.