CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Fmr LLC

FMR LLC lessened its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 28.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 66,928 shares of the financial services provider's stock after selling 25,977 shares during the quarter. FMR LLC's holdings in CVB Financial were worth $1,193,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CVBF. Quantbot Technologies LP increased its holdings in CVB Financial by 317.5% in the third quarter. Quantbot Technologies LP now owns 82,267 shares of the financial services provider's stock valued at $1,466,000 after buying an additional 62,562 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its position in shares of CVB Financial by 53.6% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 26,424 shares of the financial services provider's stock worth $471,000 after acquiring an additional 9,223 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of CVB Financial by 27.4% in the 3rd quarter. Cerity Partners LLC now owns 132,656 shares of the financial services provider's stock valued at $2,364,000 after acquiring an additional 28,501 shares during the last quarter. Citigroup Inc. raised its position in shares of CVB Financial by 9.8% during the 3rd quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider's stock worth $4,716,000 after acquiring an additional 23,682 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CVB Financial by 3.8% during 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 acquiring an additional 181,769 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company's stock.

Wall Street Analysts Forecast Growth

CVBF has been the topic of several recent analyst reports. 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. Keefe, Bruyette & Woods lifted their price target 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. Finally, Piper Sandler decreased their price objective on shares of CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $21.80.

CVB Financial Stock Performance

CVB Financial stock traded down $0.23 during midday trading on Tuesday, hitting $22.80. 1,093,508 shares of the company's stock were exchanged, compared to its average volume of 825,081. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 15.94 and a beta of 0.49. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The firm's 50 day simple moving average is $21.49 and its 200 day simple moving average is $18.93.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The firm had revenue of $126.45 million for the quarter, compared to analysts' expectations of $126.75 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm's revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.20 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.51%. CVB Financial's dividend payout ratio (DPR) is 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.