CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 394,780 shares of the financial services provider's stock after selling 14,557 shares during the period. Rhumbline Advisers owned about 0.28% of CVB Financial worth $7,288,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its position in CVB Financial by 80.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 720 shares during the period. Hopwood Financial Services Inc. acquired a new stake in CVB Financial in the fourth quarter valued at about $53,000. Sterling Capital Management LLC increased its holdings in CVB Financial by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after buying an additional 3,719 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock valued at $95,000 after buying an additional 2,597 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in CVB Financial in the fourth quarter valued at about $201,000. Institutional investors and hedge funds own 74.18% of the company's stock.

Analyst Upgrades and Downgrades

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

CVB Financial Price Performance

CVB Financial stock traded down $0.40 during mid-day trading on Friday, reaching $18.54. The company had a trading volume of 547,726 shares, compared to its average volume of 819,228. CVB Financial Corp. has a 1 year low of $15.99 and a 1 year high of $24.58. The company has a market capitalization of $2.55 billion, a P/E ratio of 12.88 and a beta of 0.66. The stock's 50-day simple moving average is $18.62 and its 200-day simple moving average is $19.83.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (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 company had revenue of $126.67 million during the quarter, compared to analysts' expectations of $124.45 million. During the same period last year, the company posted $0.35 earnings per share. On average, equities analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.31%. CVB Financial's dividend payout ratio (DPR) is currently 55.17%.

About CVB Financial

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.