Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 80.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,445 shares of the financial services provider's stock after selling 130,489 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in CVB Financial were worth $695,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in shares of CVB Financial in the fourth quarter worth $53,000. Smartleaf Asset Management LLC increased its holdings in CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after buying an additional 2,597 shares in the last quarter. KBC Group NV raised its position in CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after buying an additional 1,556 shares during the last quarter. Blue Trust Inc. boosted 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 valued at $131,000 after acquiring an additional 918 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of CVB Financial in the fourth quarter worth approximately $201,000. 74.18% of the stock is owned by hedge funds and other institutional investors.
CVB Financial Price Performance
Shares of CVBF stock traded down $0.08 on Wednesday, hitting $18.86. 464,886 shares of the stock traded hands, compared to its average volume of 762,345. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58. The firm has a 50 day simple moving average of $19.96 and a two-hundred day simple moving average of $20.33. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 13.10 and a beta of 0.46.
CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Sell-side analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.
CVB Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders 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 yield of 4.24%. CVB Financial's payout ratio is 55.56%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CVBF shares. Keefe, Bruyette & Woods boosted their target price on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Stephens cut their price target on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, CVB Financial currently has an average rating of "Hold" and an average target price of $22.20.
Read Our Latest Report on CVBF
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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