Ellis Investment Partners LLC Buys Shares of 56,771 CVB Financial Corp. (CVBF)

Ellis Investment Partners LLC bought a new stake in CVB Financial Corp. (NASDAQ:CVBF) during the first quarter, according to its most recent filing with the SEC. The firm bought 56,771 shares of the financial services provider’s stock, valued at approximately $56,000.

A number of other large investors have also recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in CVB Financial by 86.8% in the 3rd quarter. Morgan Stanley now owns 586,790 shares of the financial services provider’s stock valued at $13,098,000 after purchasing an additional 272,606 shares during the period. Bank of America Corp DE boosted its holdings in CVB Financial by 57.3% in the 4th quarter. Bank of America Corp DE now owns 403,042 shares of the financial services provider’s stock valued at $8,154,000 after purchasing an additional 146,887 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in CVB Financial in the 4th quarter valued at $788,000. Rhumbline Advisers boosted its holdings in CVB Financial by 22.5% in the 4th quarter. Rhumbline Advisers now owns 344,330 shares of the financial services provider’s stock valued at $6,966,000 after purchasing an additional 63,208 shares during the period. Finally, Strs Ohio boosted its holdings in CVB Financial by 144.0% in the 4th quarter. Strs Ohio now owns 6,100 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 3,600 shares during the period. Institutional investors and hedge funds own 64.72% of the company’s stock.

In other news, CEO Christopher D. Myers sold 53,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $21.71, for a total transaction of $1,150,630.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher D. Myers sold 24,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $21.79, for a total transaction of $522,960.00. Following the transaction, the chief executive officer now directly owns 300,157 shares of the company’s stock, valued at $6,540,421.03. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

A number of analysts have weighed in on CVBF shares. BidaskClub raised shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. FIG Partners downgraded shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, January 24th. Piper Jaffray Companies raised shares of CVB Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $25.00 in a report on Monday, January 7th. Finally, Zacks Investment Research downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Friday, January 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.90.

NASDAQ:CVBF opened at $22.19 on Friday. The stock has a market cap of $3.11 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15. CVB Financial Corp. has a 52 week low of $19.21 and a 52 week high of $24.97. 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 released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The company had revenue of $125.84 million during the quarter, compared to the consensus estimate of $121.24 million. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. During the same period last year, the firm earned $0.32 EPS. On average, equities research analysts expect that CVB Financial Corp. will post 1.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Saturday, April 6th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from CVB Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, April 4th. CVB Financial’s dividend payout ratio (DPR) is presently 58.06%.

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About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; 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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