CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 22.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,531 shares of the financial services provider’s stock after selling 13,114 shares during the period. Franklin Resources Inc.’s holdings in CVB Financial were worth $847,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Wellington Management Group LLP purchased a new stake in shares of CVB Financial during the 3rd quarter worth $8,653,000. Jane Street Group LLC lifted its holdings in CVB Financial by 11.8% during the 3rd quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock worth $2,437,000 after buying an additional 14,384 shares during the last quarter. Citigroup Inc. boosted its position in shares of CVB Financial by 9.8% during the 3rd quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock worth $4,716,000 after acquiring an additional 23,682 shares in the last quarter. American Century Companies Inc. raised its holdings in CVB Financial by 1.0% during the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after purchasing an additional 58,774 shares in the last quarter. Finally, Barclays PLC lifted its position in CVB Financial by 79.5% in the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock valued at $5,186,000 after acquiring an additional 128,869 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVBF shares. Piper Sandler lowered 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 report on Friday, November 1st. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.80.

CVB Financial Stock Down 1.1 %

Shares of CVBF opened at $21.95 on Monday. CVB Financial Corp. has a 52-week low of $15.71 and a 52-week high of $24.58. The company has a 50-day simple moving average of $21.94 and a 200-day simple moving average of $19.24. The company has a market capitalization of $3.07 billion, a PE ratio of 15.35 and a beta of 0.49.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data 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 9.80% and a net margin of 28.29%. The firm had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same period in the previous year, the firm posted $0.42 earnings per share. CVB Financial’s revenue was down 8.2% on a year-over-year basis. On average, research analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.20 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. CVB Financial’s dividend payout ratio is presently 55.94%.

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.