Sei Investments Co. Trims Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Sei Investments Co. lowered its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 19.9% during the fourth quarter, Holdings Channel reports. The fund owned 505,624 shares of the financial services provider’s stock after selling 125,814 shares during the quarter. Sei Investments Co.’s holdings in CVB Financial were worth $10,825,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in shares of CVB Financial during the 4th quarter worth about $53,000. Smartleaf Asset Management LLC grew its stake in CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 2,597 shares during the period. KBC Group NV raised its holdings in CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 1,556 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of CVB Financial by 17.7% during 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 period. Finally, QRG Capital Management Inc. acquired a new stake in shares of CVB Financial during the fourth quarter worth $201,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Down 2.0 %

Shares of CVB Financial stock opened at $18.46 on Friday. The business’s fifty day moving average price is $19.85 and its 200 day moving average price is $20.34. 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 P/E ratio of 12.82 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share 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%. As a group, sell-side analysts predict that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Wednesday, April 2nd. CVB Financial’s payout ratio is currently 55.56%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens cut their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report 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 currently has a consensus rating of “Hold” and an average price target of $22.20.

CVB Financial Company 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.