CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in CVB Financial Corp. (NASDAQ:CVBF) by 78.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,932 shares of the financial services provider’s stock after selling 68,463 shares during the quarter. Hsbc Holdings PLC’s holdings in CVB Financial were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc bought a new stake in CVB Financial in the fourth quarter valued at $268,000. Rafferty Asset Management LLC grew its holdings in CVB Financial by 27.8% in the 4th quarter. Rafferty Asset Management LLC now owns 214,850 shares of the financial services provider’s stock worth $4,338,000 after buying an additional 46,692 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in CVB Financial by 368.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock valued at $14,559,000 after acquiring an additional 567,321 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of CVB Financial by 12.5% during the fourth quarter. Schroder Investment Management Group now owns 863,044 shares of the financial services provider’s stock valued at $17,425,000 after purchasing an additional 95,970 shares in the last quarter. Finally, Woodward Diversified Capital LLC acquired a new stake in CVB Financial in the fourth quarter worth about $392,000. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Trading Up 3.6 %

Shares of CVBF stock opened at $18.02 on Thursday. The stock has a 50 day moving average of $17.74 and a two-hundred day moving average of $17.25. CVB Financial Corp. has a 12 month low of $14.62 and a 12 month high of $21.77. The company has a market capitalization of $2.52 billion, a P/E ratio of 11.86 and a beta of 0.45.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company had revenue of $125.27 million during the quarter, compared to analyst estimates of $126.86 million. During the same period last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts predict that CVB Financial Corp. will post 1.4 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Monday, September 30th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.44%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Analysts Set New Price Targets

A number of research firms recently commented on CVBF. Wedbush lowered their price objective on shares of CVB Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Stephens raised their target price on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $20.00 to $22.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.25.

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.