LPL Financial LLC Sells 23,675 Shares of CVB Financial Corp. (NASDAQ:CVBF)

LPL Financial LLC reduced its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,217 shares of the financial services provider's stock after selling 23,675 shares during the period. LPL Financial LLC's holdings in CVB Financial were worth $1,311,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in CVB Financial in the fourth quarter worth approximately $622,000. Xponance Inc. purchased a new position in shares of CVB Financial during the fourth quarter valued at approximately $204,000. Intech Investment Management LLC lifted its holdings in CVB Financial by 81.0% during the fourth quarter. Intech Investment Management LLC now owns 67,229 shares of the financial services provider's stock worth $1,439,000 after acquiring an additional 30,095 shares during the period. Cibc World Markets Corp bought a new stake in CVB Financial during the fourth quarter worth $265,000. Finally, Natixis Advisors LLC lifted its holdings in CVB Financial by 13.1% during the fourth quarter. Natixis Advisors LLC now owns 30,071 shares of the financial services provider's stock worth $644,000 after acquiring an additional 3,488 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.

Analysts Set New Price Targets

Separately, 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 research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, CVB Financial presently has an average rating of "Hold" and an average price target of $23.25.

CVB Financial Price Performance

NASDAQ:CVBF traded up $0.57 during trading hours on Wednesday, hitting $18.98. The company had a trading volume of 85,899 shares, compared to its average volume of 807,821. The stock has a 50-day moving average price of $18.60 and a 200 day moving average price of $20.27. The company has a market capitalization of $2.64 billion, a PE ratio of 13.18 and a beta of 0.62. CVB Financial Corp. has a 52 week low of $15.75 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Analysts anticipate that CVB Financial Corp. will post 1.41 EPS 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 given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is 55.56%.

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.