CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.1% in the third quarter, HoldingsChannel.com reports. The fund owned 399,005 shares of the financial services provider’s stock after selling 4,547 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CVB Financial were worth $7,110,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of CVB Financial by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock worth $97,399,000 after purchasing an additional 816,176 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CVB Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after buying an additional 181,769 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in CVB Financial by 87.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock valued at $3,798,000 after acquiring an additional 99,554 shares during the period. Inspire Advisors LLC purchased a new stake in shares of CVB Financial in the 2nd quarter valued at $1,474,000. Finally, Seaside Wealth Management Inc. acquired a new stake in shares of CVB Financial in the second quarter worth $1,395,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 0.3 %

NASDAQ:CVBF opened at $23.18 on Tuesday. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58. The stock’s 50-day moving average price is $20.88 and its 200-day moving average price is $18.64. The stock has a market capitalization of $3.24 billion, a PE ratio of 16.21 and a beta of 0.48.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $126.45 million for the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. CVB Financial’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. Sell-side analysts expect that CVB Financial Corp. will post 1.43 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, September 30th. CVB Financial’s payout ratio is presently 55.94%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVBF shares. Wedbush restated a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler dropped their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.80.

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.