CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 478,851 shares of the financial services provider’s stock after selling 16,917 shares during the quarter. Victory Capital Management Inc. owned 0.34% of CVB Financial worth $8,533,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in CVB Financial by 12.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,891 shares of the financial services provider’s stock worth $1,434,000 after purchasing an additional 8,835 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in CVB Financial in the 3rd quarter valued at about $27,000. Inspire Advisors LLC boosted its position in shares of CVB Financial by 4.1% in the third quarter. Inspire Advisors LLC now owns 89,011 shares of the financial services provider’s stock worth $1,586,000 after acquiring an additional 3,527 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in CVB Financial by 4.7% in the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 859 shares during the period. Finally, Diversified Trust Co grew its holdings in CVB Financial by 3.5% in the third quarter. Diversified Trust Co now owns 44,271 shares of the financial services provider’s stock valued at $789,000 after purchasing an additional 1,491 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CVBF. Piper Sandler dropped their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Stephens lifted their price objective on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.80.

CVB Financial Trading Up 2.7 %

CVBF opened at $23.19 on Friday. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $23.43. The stock has a fifty day moving average price of $19.55 and a 200 day moving average price of $18.09. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 16.22 and a beta of 0.44.

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

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s payout ratio is 55.94%.

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.