CVB Financial Corporation $CVBF Position Trimmed by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in CVB Financial Corporation (NASDAQ:CVBF) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,689,364 shares of the financial services provider’s stock after selling 149,181 shares during the period. Vanguard Group Inc. owned approximately 10.66% of CVB Financial worth $277,776,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CVBF. Massachusetts Financial Services Co. MA raised its position in shares of CVB Financial by 9.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,699,972 shares of the financial services provider’s stock worth $32,146,000 after purchasing an additional 140,721 shares during the period. Norges Bank purchased a new position in CVB Financial in the 2nd quarter worth about $28,320,000. Bessemer Group Inc. increased its stake in CVB Financial by 29.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock worth $20,720,000 after purchasing an additional 249,490 shares in the last quarter. Principal Financial Group Inc. raised its holdings in CVB Financial by 13.9% during the 3rd quarter. Principal Financial Group Inc. now owns 731,613 shares of the financial services provider’s stock worth $13,835,000 after buying an additional 89,179 shares during the period. Finally, Bank of America Corp DE lifted its stake in CVB Financial by 9.8% during the second quarter. Bank of America Corp DE now owns 714,274 shares of the financial services provider’s stock valued at $14,135,000 after buying an additional 63,833 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. DA Davidson raised their price objective on shares of CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Finally, Wall Street Zen downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

CVB Financial Stock Performance

Shares of CVBF opened at $19.23 on Friday. The company has a market capitalization of $2.61 billion, a PE ratio of 12.82 and a beta of 0.68. The company’s 50 day moving average price is $19.86 and its 200 day moving average price is $19.56. CVB Financial Corporation has a 52 week low of $16.01 and a 52 week high of $21.48.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. CVB Financial had a net margin of 32.28% and a return on equity of 9.30%. The company had revenue of $133.85 million during the quarter, compared to analyst estimates of $135.45 million. During the same quarter last year, the business posted $0.36 EPS. On average, equities analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Monday, December 29th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, December 29th. CVB Financial’s dividend payout ratio is presently 53.33%.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.