Bank of New York Mellon Corp Sells 34,958 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Bank of New York Mellon Corp trimmed its holdings in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,475,867 shares of the financial services provider's stock after selling 34,958 shares during the period. Bank of New York Mellon Corp owned 1.06% of CVB Financial worth $31,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. KBC Group NV raised its position in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 1,556 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of CVB Financial by 17.7% during the 4th quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider's stock worth $131,000 after buying an additional 918 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of CVB Financial during the 4th quarter worth $206,000. Savant Capital LLC acquired a new stake in CVB Financial in the fourth quarter valued at about $221,000. Finally, LMR Partners LLP acquired a new stake in shares of CVB Financial during the 3rd quarter valued at $215,000. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CVBF shares. Keefe, Bruyette & Woods raised their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Stephens cut their price target on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.20.

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CVB Financial Stock Performance

Shares of CVB Financial stock traded up $0.09 on Wednesday, reaching $18.64. 475,389 shares of the company's stock were exchanged, compared to its average volume of 766,144. The company has a market capitalization of $2.60 billion, a P/E ratio of 12.97 and a beta of 0.46. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58. The firm's 50-day moving average is $20.33 and its two-hundred day moving average is $20.28.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. On average, analysts expect that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Tuesday, December 31st. CVB Financial's dividend payout ratio (DPR) is currently 55.56%.

CVB Financial Company 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.