Rhumbline Advisers Sells 14,557 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Rhumbline Advisers lessened its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 394,780 shares of the financial services provider's stock after selling 14,557 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of CVB Financial worth $7,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVBF. Smartleaf Asset Management LLC raised its holdings in CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after purchasing an additional 2,597 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of CVB Financial by 16.7% during the fourth quarter. Wells Fargo & Company MN now owns 120,091 shares of the financial services provider's stock valued at $2,571,000 after buying an additional 17,227 shares during the period. Proficio Capital Partners LLC bought a new stake in CVB Financial during the 4th quarter valued at approximately $699,000. Principal Financial Group Inc. grew its holdings in shares of CVB Financial by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider's stock worth $13,634,000 after acquiring an additional 17,734 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of CVB Financial by 210.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock worth $31,858,000 after acquiring an additional 1,009,146 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their target price on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th.

CVB Financial Price Performance

CVB Financial stock traded down $0.08 during mid-day trading on Thursday, reaching $18.94. The stock had a trading volume of 404,359 shares, compared to its average volume of 817,355. CVB Financial Corp. has a one year low of $15.91 and a one year high of $24.58. The company has a 50-day moving average price of $18.54 and a two-hundred day moving average price of $19.93. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 13.15 and a beta of 0.66.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. The firm had revenue of $126.67 million for the quarter, compared to analysts' expectations of $124.45 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities research analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's payout ratio is 55.17%.

CVB Financial Company 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.