American Century Companies Inc. decreased its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,337,272 shares of the financial services provider's stock after selling 1,586,772 shares during the period. American Century Companies Inc. owned about 3.11% of CVB Financial worth $92,861,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in CVB Financial by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider's stock worth $110,401,000 after purchasing an additional 204,164 shares during the period. Geode Capital Management LLC lifted its position in shares of CVB Financial by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider's stock valued at $56,401,000 after buying an additional 15,628 shares in the last quarter. Victory Capital Management Inc. grew its stake in CVB Financial by 210.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock valued at $31,858,000 after acquiring an additional 1,009,146 shares during the period. Principal Financial Group Inc. increased its holdings in CVB Financial by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider's stock worth $13,634,000 after acquiring an additional 17,734 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in CVB Financial during the third quarter worth $8,653,000. Institutional investors and hedge funds own 74.18% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on CVBF shares. Keefe, Bruyette & Woods boosted their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Stephens reduced their target price on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.20.
View Our Latest Analysis on CVBF
CVB Financial Stock Performance
Shares of CVBF stock traded down $0.37 during trading hours on Friday, reaching $18.46. The company had a trading volume of 465,184 shares, compared to its average volume of 791,275. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 12.82 and a beta of 0.46. The stock has a fifty day moving average of $19.89 and a 200-day moving average of $20.31.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. On average, analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.
CVB Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.33%. CVB Financial's dividend payout ratio (DPR) is 55.56%.
About CVB Financial
(
Free Report)
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.
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