Mutual of America Capital Management LLC Has $352,000 Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Mutual of America Capital Management LLC decreased its position in CVB Financial Corp. (NASDAQ:CVBF) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,749 shares of the financial services provider’s stock after selling 2,056 shares during the period. Mutual of America Capital Management LLC’s holdings in CVB Financial were worth $352,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in CVB Financial in the third quarter valued at about $27,000. nVerses Capital LLC grew its position in shares of CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,400 shares during the period. Versant Capital Management Inc increased its stake in CVB Financial by 832.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,574 shares in the last quarter. Innealta Capital LLC acquired a new stake in CVB Financial during the 2nd quarter worth approximately $38,000. Finally, GAMMA Investing LLC lifted its stake 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 buying an additional 780 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CVBF has been the subject of several research reports. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. Piper Sandler lowered their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.80.

CVB Financial Stock Performance

NASDAQ CVBF opened at $23.83 on Thursday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 16.66 and a beta of 0.44. The firm’s fifty day moving average price is $20.02 and its two-hundred day moving average price is $18.29. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58.

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

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s payout ratio is presently 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.