CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 23.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,658 shares of the financial services provider’s stock after selling 2,877 shares during the period. CIBC Asset Management Inc’s holdings in CVB Financial were worth $207,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Natixis Advisors LLC boosted its holdings in shares of CVB Financial by 2.1% during the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 545 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 918 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of CVB Financial during the third quarter worth $27,000. KBC Group NV boosted its holdings in shares of CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 1,556 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of CVB Financial by 11.9% during the fourth quarter. Diversified Trust Co now owns 49,520 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 5,249 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Up 0.5 %

Shares of CVBF opened at $19.86 on Thursday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 13.79 and a beta of 0.50. The stock’s fifty day simple moving average is $20.74 and its 200 day simple moving average is $20.10. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $24.58.

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

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s dividend payout ratio (DPR) is presently 55.56%.

Wall Street Analysts Forecast Growth

CVBF has been the topic of several analyst reports. Piper Sandler decreased their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Keefe, Bruyette & Woods raised their price objective on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Stephens cut their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, CVB Financial currently has an average rating of “Hold” and an average price target of $22.20.

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.