CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 49.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 107,898 shares of the financial services provider’s stock after selling 105,261 shares during the period. Thrivent Financial for Lutherans’ holdings in CVB Financial were worth $2,310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVBF. Natixis Advisors LLC raised its holdings in CVB Financial by 2.1% in the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 545 shares in the last quarter. Blue Trust Inc. increased its position in shares of CVB Financial by 17.7% in the 4th 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. KBC Group NV increased its position in shares of CVB Financial by 35.0% in the 4th 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. Los Angeles Capital Management LLC raised its stake in shares of CVB Financial by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 20,401 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 1,690 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CVB Financial by 5.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,367 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 2,021 shares during the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CVB Financial Trading Down 2.0 %

Shares of CVB Financial stock opened at $18.46 on Friday. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $24.58. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 12.82 and a beta of 0.46. The business’s 50 day simple moving average is $19.85 and its 200-day simple moving average is $20.32.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 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 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Wednesday, April 2nd. CVB Financial’s payout ratio is 55.56%.

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.