2 weeks Ago By ABMN Staff
Alliancebernstein L.P. trimmed its stake in shares of CVB Financial Corp.
( NASDAQ:CVBF – Free Report ) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,869 shares of the financial services provider’s stock after selling 8,122 shares during the quarter.
Alliancebernstein L.P.’s holdings in CVB Financial were worth $3,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in CVB Financial by 4.
1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider’s stock valued at $110,401,000 after acquiring an additional 204,164 shares during the last quarter.
Geode Capital Management LLC lifted its stake in shares of CVB Financial by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after purchasing an additional 15,628 shares during the period.
Victory Capital Management Inc. boosted its position in shares of CVB Financial by 210.7% during the 4th quarter.
Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock valued at $31,858,000 after purchasing an additional 1,009,146 shares in the last quarter. Norges Bank acquired a new stake in CVB Financial during the fourth quarter worth approximately $27,724,000.
Finally, Wellington Management Group LLP increased its holdings in CVB Financial by 99.6% in the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider’s stock worth $20,755,000 after purchasing an additional 483,844 shares in the last quarter.
74.18% of the stock is owned by institutional investors and hedge funds. Analysts Set New Price Targets Separately, Stephens cut their price target on 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 given a buy rating to the company.
According to data from MarketBeat.com, CVB Financial has an average rating of “Hold” and a consensus price target of $22.20.
CVB Financial Price Performance Shares of CVBF opened at $16.81 on Tuesday. The stock has a 50-day moving average of $18.
93 and a 200-day moving average of $20.29. CVB Financial Corp.
has a one year low of $15.71 and a one year high of $24.58.
The company has a market cap of $2.35 billion, a PE ratio of 11.67 and a beta of 0.
62. CVB Financial ( NASDAQ:CVBF – Get Free Report ) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.
36 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%.
Analysts expect that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.
CVB Financial Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.20 per share.
The ex-dividend date is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.
76%. CVB Financial’s payout ratio is 55.56%.
CVB Financial Company Profile ( Free Report ) 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.
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