Russell Investments Group Ltd. reduced its position in CVB Financial Corp. (NASDAQ:CVBF) by 6.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 383,508 shares of the financial services provider’s stock after selling 24,301 shares during the period. Russell Investments Group Ltd.’s holdings in CVB Financial were worth $7,688,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in shares of CVB Financial by 334.2% during the first quarter. Versant Capital Management Inc now owns 2,071 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,594 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of CVB Financial during the fourth quarter valued at approximately $79,000. PNC Financial Services Group Inc. grew its holdings in shares of CVB Financial by 28.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,057 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 1,342 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of CVB Financial by 2,966.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,206 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 6,971 shares during the last quarter. Finally, Shelton Capital Management bought a new position in shares of CVB Financial during the fourth quarter valued at approximately $207,000. 72.63% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ CVBF opened at $18.03 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $19.15 and a 200-day simple moving average of $20.30. The company has a market cap of $2.45 billion, a PE ratio of 12.97 and a beta of 0.71. CVB Financial Corp. has a 12-month low of $14.91 and a 12-month high of $22.23.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.04). The business had revenue of $101.95 million for the quarter, compared to analyst estimates of $114.73 million. CVB Financial had a return on equity of 9.91% and a net margin of 38.52%. The business’s quarterly revenue was down 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Sell-side analysts forecast that CVB Financial Corp. will post 1.19 earnings per share for the current fiscal year.

Several equities analysts have recently commented on CVBF shares. Hovde Group lowered CVB Financial from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $19.00 in a report on Wednesday, April 8th. Zacks Investment Research raised CVB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. DA Davidson reaffirmed a “neutral” rating on shares of CVB Financial in a report on Monday, January 27th. Finally, BidaskClub lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $21.67.

CVB Financial Company Profile

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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