ProShare Advisors LLC Has $540,000 Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

Posted by Defense World Staff on Apr 29th, 2023

ProShare Advisors LLC grew its position in CVB Financial Corp. (NASDAQ:CVBF – Get Rating) by 14.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,990 shares of the financial services provider’s stock after buying an additional 2,713 shares during the period. ProShare Advisors LLC’s holdings in CVB Financial were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. boosted its stake in CVB Financial by 20.6% in the 1st quarter. Citigroup Inc. now owns 121,451 shares of the financial services provider’s stock worth $2,818,000 after purchasing an additional 20,745 shares during the period. Natixis Advisors L.P. acquired a new position in CVB Financial in the 1st quarter worth $422,000. Bank of Montreal Can boosted its stake in CVB Financial by 5.6% in the 1st quarter. Bank of Montreal Can now owns 40,228 shares of the financial services provider’s stock worth $942,000 after purchasing an additional 2,135 shares during the period. MetLife Investment Management LLC boosted its stake in CVB Financial by 63.5% in the 1st quarter. MetLife Investment Management LLC now owns 72,516 shares of the financial services provider’s stock worth $1,683,000 after purchasing an additional 28,159 shares during the period. Finally, Rhumbline Advisers boosted its stake in CVB Financial by 3.2% in the 1st quarter. Rhumbline Advisers now owns 417,911 shares of the financial services provider’s stock worth $9,700,000 after purchasing an additional 12,818 shares during the period. Institutional investors and hedge funds own 71.35% of the company’s stock.

CVB Financial Price Performance

CVB Financial stock opened at $14.97 on Friday. The firm has a 50-day moving average of $18.89 and a 200-day moving average of $23.79. CVB Financial Corp. has a one year low of $14.46 and a one year high of $29.25. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 9.02 and a beta of 0.36.

CVB Financial (NASDAQ:CVBF – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). CVB Financial had a return on equity of 12.86% and a net margin of 41.85%. The business had revenue of $138.93 million for the quarter, compared to analyst estimates of $143.35 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts expect that CVB Financial Corp. will post 1.78 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 19th. Stockholders of record on Wednesday, April 5th were issued a $0.20 dividend. The ex-dividend date was Tuesday, April 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.34%. CVB Financial’s payout ratio is 48.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVBF shares. TheStreet lowered shares of CVB Financial from a “b-” rating to a “c+” rating in a research note on Wednesday, April 5th. StockNews.com lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Keefe, Bruyette & Woods reduced their target price on shares of CVB Financial from $30.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. Finally, DA Davidson reduced their price objective on shares of CVB Financial from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 13th.

CVB Financial Company Profile

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CVB Financial Corp. is a bank holding company, which engages in the provision of relationship-based banking products, services, and solutions for small to mid-sized companies, real estate investors, non-profit organizations, professionals, and other individuals through its subsidiary, Citizens Business Bank.