CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lessened its stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,249 shares of the financial services provider's stock after selling 44,984 shares during the quarter. Chartwell Investment Partners LLC owned about 0.29% of CVB Financial worth $7,150,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in CVB Financial by 7.3% in the 1st quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider's stock valued at $9,629,000 after buying an additional 36,894 shares during the period. Sei Investments Co. grew its stake in shares of CVB Financial by 15.5% during the first quarter. Sei Investments Co. now owns 611,438 shares of the financial services provider's stock valued at $10,908,000 after acquiring an additional 82,125 shares in the last quarter. American Century Companies Inc. raised its holdings in 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 worth $100,221,000 after purchasing an additional 58,774 shares in the last quarter. Seaside Wealth Management Inc. purchased a new stake in CVB Financial in the 2nd quarter worth approximately $1,395,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of CVB Financial by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,803 shares of the financial services provider's stock worth $1,888,000 after purchasing an additional 4,744 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods upgraded CVB Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Wedbush reiterated a "neutral" rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Piper Sandler decreased their price objective on CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, November 1st. Finally, Stephens increased their price target on CVB Financial from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.80.

CVB Financial Stock Down 0.3 %

Shares of NASDAQ CVBF traded down $0.06 during midday trading on Tuesday, reaching $23.01. 1,036,562 shares of the company's stock traded hands, compared to its average volume of 829,469. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 16.13 and a beta of 0.44. The stock's 50 day simple moving average is $18.69 and its 200-day simple moving average is $17.77. CVB Financial Corp. has a one year low of $15.71 and a one year high of $23.43.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $126.45 million for 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%. CVB Financial's quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. Equities analysts predict that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were given 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 3.48%. CVB Financial's dividend payout ratio (DPR) is presently 55.94%.

About CVB Financial

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.