CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in CVB Financial Corp. (NASDAQ:CVBF) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,460 shares of the financial services provider’s stock after selling 537 shares during the period. PNC Financial Services Group Inc.’s holdings in CVB Financial were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in CVB Financial by 144.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 2,597 shares in the last quarter. KBC Group NV lifted its holdings in shares of CVB Financial by 35.0% in the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock valued at $129,000 after buying an additional 1,556 shares during the period. Blue Trust Inc. boosted its stake in CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after buying an additional 918 shares in the last quarter. QRG Capital Management Inc. acquired a new position in CVB Financial during the fourth quarter worth about $201,000. Finally, Crossmark Global Holdings Inc. bought a new stake in CVB Financial in the fourth quarter worth about $206,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVBF has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens cut their target price on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.20.

CVB Financial Trading Up 0.5 %

Shares of CVBF opened at $18.70 on Friday. The business’s 50-day moving average price is $20.00 and its 200 day moving average price is $20.27. The stock has a market capitalization of $2.61 billion, a P/E ratio of 12.99 and a beta of 0.46. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. On average, research analysts predict that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.28%. The ex-dividend date is Wednesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is currently 55.56%.

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.