CVB Financial Corp. (NASDAQ:CVBF) Holdings Lowered by Public Sector Pension Investment Board

Public Sector Pension Investment Board lowered its stake in CVB Financial Corp. (NASDAQ:CVBF) by 4.6% during the third quarter, HoldingsChannel reports. The firm owned 278,536 shares of the financial services provider’s stock after selling 13,300 shares during the period. Public Sector Pension Investment Board’s holdings in CVB Financial were worth $4,964,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of CVB Financial by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after purchasing an additional 816,176 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CVB Financial by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after acquiring an additional 181,769 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in CVB Financial by 87.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock worth $3,798,000 after acquiring an additional 99,554 shares during the period. Inspire Advisors LLC purchased a new position in CVB Financial during the 2nd quarter valued at about $1,474,000. Finally, Seaside Wealth Management Inc. acquired a new position in shares of CVB Financial in the 2nd quarter valued at about $1,395,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Down 1.7 %

Shares of CVBF opened at $23.42 on Monday. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The company’s fifty day moving average is $20.23 and its 200-day moving average is $18.38. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 16.38 and a beta of 0.44.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, research analysts predict that CVB Financial Corp. will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.42%. CVB Financial’s dividend payout ratio (DPR) is presently 55.94%.

Analysts Set New Price Targets

Several research firms recently commented on CVBF. Piper Sandler decreased their price target on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.80.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It 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.