Capital Research Global Investors Sells 210,263 Shares of CVB Financial Corporation $CVBF

Key Points

• Capital Research Global Investors sold 210,263 shares of CVB Financial, an 8.9% reduction that left it with 2,149,618 shares (~1.56% ownership) valued at about $40.65 million at quarter end.
• Analyst sentiment is mixed: the stock has two Buy and two Hold ratings for a consensus of "Moderate Buy" with a $24.17 average price target, while recent notes range from Weiss Ratings' "hold" to Wall Street Zen's "sell" and DA Davidson's neutral $22.50 target.
• CVB reported quarterly EPS of $0.40 (in line with estimates) and revenue of $133.85M (slightly below), and the shares trade around $18.86 with a market cap of $2.56 billion and a P/E of about 12.6.

Capital Research Global Investors lessened its stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,149,618 shares of the financial services provider's stock after selling 210,263 shares during the period. Capital Research Global Investors owned approximately 1.56% of CVB Financial worth $40,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new position in CVB Financial during the third quarter valued at $25,000. Hantz Financial Services Inc. lifted its holdings in shares of CVB Financial by 394.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider's stock worth $66,000 after acquiring an additional 2,790 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CVB Financial by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider's stock worth $77,000 after purchasing an additional 854 shares during the period. Osterweis Capital Management Inc. bought a new position in CVB Financial during the 2nd quarter valued at about $103,000. Finally, GAMMA Investing LLC grew its holdings in CVB Financial by 10.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,384 shares of the financial services provider's stock valued at $121,000 after purchasing an additional 619 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CVBF. Weiss Ratings reissued a "hold (c)" rating on shares of CVB Financial in a research note on Monday, December 29th. Wall Street Zen cut CVB Financial from a "hold" rating to a "sell" rating in a research note on Sunday, December 14th. Finally, DA Davidson increased their price target on CVB Financial from $21.00 to $22.50 and gave the stock a "neutral" rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.17.

CVB Financial Trading Up 0.3%

Shares of CVBF opened at $18.86 on Friday. CVB Financial Corporation has a 1-year low of $16.01 and a 1-year high of $21.48. The company has a 50-day moving average of $19.85 and a 200 day moving average of $19.53. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 12.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.72 and a quick ratio of 0.72.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.40 EPS for the quarter, hitting analysts' consensus estimates of $0.40. The business had revenue of $133.85 million for the quarter, compared to the consensus estimate of $135.45 million. CVB Financial had a net margin of 32.28% and a return on equity of 9.25%. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts expect that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company's core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.

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