Everence Capital Management Inc. Sells 5,780 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Everence Capital Management Inc. lowered its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 26.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,780 shares of the financial services provider’s stock after selling 5,780 shares during the quarter. Everence Capital Management Inc.’s holdings in CVB Financial were worth $281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System increased its holdings in CVB Financial by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock valued at $673,000 after buying an additional 725 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in CVB Financial by 5.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock valued at $250,000 after buying an additional 748 shares during the period. GAMMA Investing LLC increased its holdings in CVB Financial by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after buying an additional 780 shares during the period. AlphaMark Advisors LLC increased its holdings in CVB Financial by 4.7% in the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock valued at $342,000 after buying an additional 859 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of CVB Financial by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock valued at $1,150,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVBF shares. Wedbush reduced their target price 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. Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, Stephens upped their price target on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CVB Financial has a consensus rating of “Hold” and an average target price of $20.25.

CVB Financial Stock Down 3.9 %

Shares of NASDAQ CVBF opened at $18.78 on Tuesday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 12.36 and a beta of 0.45. CVB Financial Corp. has a 12-month low of $14.62 and a 12-month high of $21.77. The firm’s 50-day simple moving average is $17.93 and its 200 day simple moving average is $17.39.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 24th. 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 net margin of 29.58% and a return on equity of 10.41%. The business had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. During the same period in the prior year, the business posted $0.40 earnings per share. CVB Financial’s revenue was down 5.2% compared to the same quarter last year. On average, equities analysts expect that CVB Financial Corp. will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a $0.20 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.26%. CVB Financial’s dividend payout ratio is currently 52.63%.

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.