Mason & Associates Inc Lowers Stake in CVB Financial Corp. (NASDAQ:CVBF)

Mason & Associates Inc trimmed its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,040 shares of the financial services provider's stock after selling 21,390 shares during the quarter. Mason & Associates Inc's holdings in CVB Financial were worth $1,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVBF. Allspring Global Investments Holdings LLC bought a new stake in CVB Financial in the 3rd quarter valued at about $27,000. GAMMA Investing LLC increased its holdings in CVB Financial by 21.7% in the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 780 shares during the period. SG Americas Securities LLC bought a new position in CVB Financial during the 3rd quarter worth $107,000. LMR Partners LLP acquired a new position in CVB Financial during the 3rd quarter worth about $215,000. Finally, Profund Advisors LLC increased its stake in shares of CVB Financial by 14.0% in the second quarter. Profund Advisors LLC now owns 13,478 shares of the financial services provider's stock valued at $232,000 after buying an additional 1,655 shares during the period. 74.18% of the stock is owned by institutional investors.

CVB Financial Stock Performance

NASDAQ:CVBF traded down $0.40 on Thursday, hitting $20.37. The stock had a trading volume of 844,959 shares, compared to its average volume of 823,396. The firm's fifty day simple moving average is $22.25 and its two-hundred day simple moving average is $19.60. The stock has a market cap of $2.85 billion, a P/E ratio of 14.24 and a beta of 0.50. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58.

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

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.93%. CVB Financial's payout ratio is 55.94%.

Analyst Upgrades and Downgrades

CVBF has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, November 1st. Keefe, Bruyette & Woods boosted their price target on CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Wedbush reissued a "neutral" rating and set a $20.00 target price on shares of CVB Financial in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.80.

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.