CVB Financial Corp. (NASDAQ:CVBF) Stake Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 87.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,159 shares of the financial services provider's stock after acquiring an additional 99,554 shares during the quarter. Thrivent Financial for Lutherans owned about 0.15% of CVB Financial worth $3,798,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of CVB Financial by 1.0% in the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider's stock valued at $100,221,000 after purchasing an additional 58,774 shares during the period. Dimensional Fund Advisors LP boosted its position in CVB Financial by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider's stock valued at $97,399,000 after buying an additional 816,176 shares during the last quarter. Sei Investments Co. grew its stake in shares of CVB Financial by 2.9% during the second quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider's stock valued at $10,843,000 after acquiring an additional 17,483 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of CVB Financial by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 291,836 shares of the financial services provider's stock worth $5,031,000 after acquiring an additional 20,498 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of CVB Financial by 10.7% in the second quarter. Panagora Asset Management Inc. now owns 287,104 shares of the financial services provider's stock worth $4,950,000 after acquiring an additional 27,674 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company's stock.

CVB Financial Stock Performance

Shares of NASDAQ CVBF traded up $0.17 during midday trading on Monday, hitting $24.00. The company's stock had a trading volume of 1,196,401 shares, compared to its average volume of 827,527. The firm has a market cap of $3.35 billion, a P/E ratio of 16.75 and a beta of 0.44. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58. The firm's fifty day moving average price is $19.67 and its 200-day moving average price is $18.15.

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

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial's payout ratio is 55.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVBF shares. Wedbush restated a "neutral" rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Piper Sandler cut their target price on shares of CVB Financial from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.80.

CVB Financial Company 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.