Everence Capital Management Inc. Lowers Position in CVB Financial Corp. (NASDAQ:CVBF)

Everence Capital Management Inc. cut its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,930 shares of the financial services provider’s stock after selling 850 shares during the quarter. Everence Capital Management Inc.’s holdings in CVB Financial were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVBF. Wellington Management Group LLP bought a new stake in shares of CVB Financial during the 3rd quarter valued at $8,653,000. Jane Street Group LLC boosted its stake in CVB Financial by 11.8% during the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock worth $2,437,000 after acquiring an additional 14,384 shares in the last quarter. Citigroup Inc. grew its holdings in CVB Financial by 9.8% in the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock worth $4,716,000 after purchasing an additional 23,682 shares during the period. American Century Companies Inc. increased its stake in shares of CVB Financial by 1.0% during the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock valued at $100,221,000 after purchasing an additional 58,774 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of CVB Financial by 79.5% during the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock valued at $5,186,000 after purchasing an additional 128,869 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wedbush reissued a “neutral” rating and issued a $20.00 target price on shares of CVB Financial in a research note on Thursday, October 24th. Finally, Piper Sandler lowered their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.80.

CVB Financial Trading Down 0.1 %

CVB Financial stock opened at $21.17 on Tuesday. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 14.80 and a beta of 0.50. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The stock has a fifty day simple moving average of $22.16 and a two-hundred day simple moving average of $19.41.

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

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 31st. CVB Financial’s dividend payout ratio (DPR) is presently 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.