Invesco Ltd. Sells 15,502 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Invesco Ltd. lowered its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 475,255 shares of the financial services provider's stock after selling 15,502 shares during the quarter. Invesco Ltd. owned approximately 0.34% of CVB Financial worth $10,175,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVBF. Massachusetts Financial Services Co. MA bought a new position in CVB Financial in the 4th quarter valued at $31,064,000. Norges Bank bought a new stake in shares of CVB Financial during the fourth quarter worth $27,724,000. Victory Capital Management Inc. increased its stake in shares of CVB Financial by 210.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock valued at $31,858,000 after buying an additional 1,009,146 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of CVB Financial by 99.6% in the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock valued at $20,755,000 after buying an additional 483,844 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in CVB Financial during the 4th quarter worth about $9,483,000. 74.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Stephens lowered their price objective on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, CVB Financial presently has an average rating of "Hold" and an average price target of $23.25.

CVB Financial Price Performance

Shares of CVBF stock traded down $0.45 on Friday, reaching $18.46. 900,566 shares of the stock were exchanged, compared to its average volume of 810,434. CVB Financial Corp. has a one year low of $15.75 and a one year high of $24.58. The stock has a market cap of $2.57 billion, a PE ratio of 12.82 and a beta of 0.62. The stock has a 50 day moving average price of $18.55 and a 200 day moving average price of $20.26.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $126.67 million during the quarter, compared to analysts' expectations of $124.45 million. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. On average, research analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were paid a $0.20 dividend. The ex-dividend date was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.33%. CVB Financial's payout ratio is presently 55.56%.

CVB Financial 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.