Blue Trust Inc. Trims Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Blue Trust Inc. cut its stake in CVB Financial Corp. (NASDAQ:CVBF) by 77.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,190 shares of the financial services provider’s stock after selling 18,243 shares during the quarter. Blue Trust Inc.’s holdings in CVB Financial were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVBF. nVerses Capital LLC grew its holdings in CVB Financial by 466.7% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,400 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of CVB Financial by 832.8% in the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,574 shares during the period. Innealta Capital LLC purchased a new position in CVB Financial during the second quarter valued at approximately $38,000. GAMMA Investing LLC grew its stake in CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 780 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in CVB Financial during the 3rd quarter worth approximately $107,000. 74.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CVBF. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Stephens lifted their price objective on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, CVB Financial has an average rating of “Hold” and a consensus target price of $20.25.

CVB Financial Stock Performance

NASDAQ CVBF opened at $19.64 on Wednesday. CVB Financial Corp. has a 52-week low of $15.38 and a 52-week high of $21.77. The company has a fifty day moving average of $18.22 and a 200-day moving average of $17.50. The company has a market capitalization of $2.74 billion, a P/E ratio of 12.92 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last issued its quarterly 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. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The firm had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. As a group, analysts forecast that CVB Financial Corp. will post 1.4 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company 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 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s dividend payout ratio is currently 52.63%.

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.