Geode Capital Management LLC Has $56.40 Million Stake in CVB Financial Corp. (NASDAQ:CVBF)

Geode Capital Management LLC lifted its stake in CVB Financial Corp. (NASDAQ:CVBFFree Report) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,164,463 shares of the financial services provider’s stock after acquiring an additional 15,628 shares during the quarter. Geode Capital Management LLC owned approximately 2.27% of CVB Financial worth $56,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in CVB Financial during the third quarter valued at about $8,653,000. American Century Companies Inc. raised its holdings in CVB Financial by 1.0% in the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after acquiring an additional 58,774 shares during the period. Citigroup Inc. boosted its holdings in CVB Financial by 9.8% during the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock valued at $4,716,000 after acquiring an additional 23,682 shares during the period. Seaside Wealth Management Inc. bought a new position in shares of CVB Financial in the second quarter worth about $1,395,000. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 valued at $88,251,000 after purchasing an additional 181,769 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Report on CVBF

CVB Financial Stock Up 3.3 %

Shares of CVBF stock opened at $22.00 on Monday. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The company’s fifty day simple moving average is $21.69 and its 200-day simple moving average is $19.04. The firm has a market cap of $3.07 billion, a PE ratio of 15.38 and a beta of 0.49.

CVB Financial (NASDAQ:CVBFGet Free Report) last released its 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. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The business had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. On average, equities analysts predict 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 will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.64%. CVB Financial’s dividend payout ratio (DPR) is 55.94%.

About CVB Financial

(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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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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