First Trust Advisors LP Grows Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

First Trust Advisors LP raised its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 63.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 395,829 shares of the financial services provider’s stock after acquiring an additional 153,692 shares during the quarter. First Trust Advisors LP owned approximately 0.29% of CVB Financial worth $6,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Private Advisor Group LLC bought a new position in shares of CVB Financial during the 2nd quarter worth $45,000. Macquarie Group Ltd. acquired a new stake in CVB Financial during the second quarter worth about $104,000. Advisor Group Holdings Inc. acquired a new stake in CVB Financial during the first quarter worth about $115,000. Profund Advisors LLC acquired a new stake in CVB Financial during the second quarter worth about $196,000. Finally, Gyon Technologies Capital Management LP acquired a new stake in CVB Financial in the second quarter valued at approximately $219,000. 62.41% of the stock is currently owned by institutional investors.

Shares of CVB Financial stock opened at $19.90 on Friday. CVB Financial Corp. has a fifty-two week low of $14.91 and a fifty-two week high of $22.22. The firm has a market cap of $2.70 billion, a PE ratio of 15.31 and a beta of 0.62. The business’s fifty day moving average is $18.26 and its two-hundred day moving average is $18.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. CVB Financial had a return on equity of 9.06% and a net margin of 36.90%. The business had revenue of $116.48 million for the quarter, compared to analyst estimates of $117.98 million. During the same period last year, the company posted $0.36 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Equities research analysts anticipate that CVB Financial Corp. will post 1.27 EPS for the current year.

A number of analysts have recently issued reports on the company. BidaskClub raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 7th. Zacks Investment Research downgraded CVB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. ValuEngine cut CVB Financial from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. TheStreet raised CVB Financial from a “c+” rating to a “b-” rating in a research note on Thursday. Finally, Wedbush boosted their target price on CVB Financial from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. CVB Financial presently has an average rating of “Hold” and an average target price of $19.50.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial services. The company 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.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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