CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC reduced its stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 21.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,156 shares of the financial services provider's stock after selling 37,828 shares during the period. Rafferty Asset Management LLC owned 0.10% of CVB Financial worth $2,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of CVB Financial by 80.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after purchasing an additional 720 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in shares of CVB Financial during the 4th quarter worth approximately $53,000. Sterling Capital Management LLC boosted its holdings in shares of CVB Financial by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock worth $89,000 after purchasing an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of CVB Financial by 144.9% during 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 during the last quarter. Finally, KBC Group NV boosted its holdings in shares of CVB Financial by 35.0% during the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after purchasing an additional 1,556 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVBF has been the topic of a number of recent analyst reports. Piper Sandler decreased their price objective on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Stephens decreased their price objective on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th.

CVB Financial Stock Down 0.2%

NASDAQ:CVBF traded down $0.03 during trading hours on Friday, reaching $18.94. 583,492 shares of the stock were exchanged, compared to its average volume of 810,632. CVB Financial Corp. has a twelve month low of $15.75 and a twelve month high of $24.58. The business has a 50-day moving average of $18.43 and a two-hundred day moving average of $20.25. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 13.15 and a beta of 0.65.

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

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders 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 annualized dividend and a dividend yield of 4.22%. CVB Financial's dividend payout ratio 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.