Cerity Partners LLC Has $2.36 Million Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Cerity Partners LLC lifted its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 27.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,656 shares of the financial services provider's stock after acquiring an additional 28,501 shares during the quarter. Cerity Partners LLC owned about 0.09% of CVB Financial worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of CVB Financial by 1.0% during the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider's stock valued at $100,221,000 after purchasing an additional 58,774 shares during the period. Seaside Wealth Management Inc. acquired a new position in CVB Financial in the 2nd quarter worth $1,395,000. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 181,769 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of CVB Financial by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,803 shares of the financial services provider's stock valued at $1,888,000 after acquiring an additional 4,744 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake 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 valued at $3,798,000 after purchasing an additional 99,554 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

Shares of CVBF stock traded down $0.11 during midday trading on Monday, reaching $23.31. 954,623 shares of the company were exchanged, compared to its average volume of 827,623. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The company has a market cap of $3.26 billion, a P/E ratio of 16.30 and a beta of 0.44. The company's 50 day moving average price is $20.33 and its two-hundred day moving average price is $18.42.

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

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.43%. CVB Financial's dividend payout ratio (DPR) is 55.94%.

Analysts Set New Price Targets

CVBF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush reiterated a "neutral" rating and issued a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Finally, Piper Sandler cut their price objective on CVB Financial from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $20.80.

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.