State Street Corp Has $126.09 Million Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

State Street Corp lowered its stake in CVB Financial Corp. (NASDAQ:CVBF) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,997,219 shares of the financial services provider’s stock after selling 104,943 shares during the quarter. State Street Corp owned approximately 5.01% of CVB Financial worth $126,085,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jacobs Asset Management LLC acquired a new stake in shares of CVB Financial during the 3rd quarter valued at $4,455,000. Holocene Advisors LP boosted its position in CVB Financial by 167.1% during the 3rd quarter. Holocene Advisors LP now owns 79,844 shares of the financial services provider’s stock worth $1,423,000 after buying an additional 49,953 shares during the period. Paloma Partners Management Co bought a new position in shares of CVB Financial during the third quarter valued at $271,000. Captrust Financial Advisors grew its stake in shares of CVB Financial by 17.1% in the third quarter. Captrust Financial Advisors now owns 71,848 shares of the financial services provider’s stock worth $1,280,000 after purchasing an additional 10,518 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in CVB Financial by 67.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 66,195 shares of the financial services provider’s stock worth $1,180,000 after purchasing an additional 26,610 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CVB Financial Trading Down 0.6 %

CVB Financial stock opened at $22.71 on Friday. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The business’s 50 day simple moving average is $21.29 and its 200 day simple moving average is $18.82. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 15.88 and a beta of 0.49.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. As a group, equities research analysts forecast that CVB Financial Corp. will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio is currently 55.94%.

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.