Silvercrest Asset Management Group LLC Has $76.60 Million Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

Silvercrest Asset Management Group LLC cut its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,577,558 shares of the financial services provider's stock after selling 249,167 shares during the period. Silvercrest Asset Management Group LLC owned 2.56% of CVB Financial worth $76,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Research Global Investors acquired a new position in shares of CVB Financial during the 4th quarter worth about $94,382,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of CVB Financial in the fourth quarter valued at approximately $31,064,000. Norges Bank acquired a new position in shares of CVB Financial during the 4th quarter worth about $27,724,000. Victory Capital Management Inc. grew its stake in CVB Financial by 210.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock valued at $31,858,000 after purchasing an additional 1,009,146 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in CVB Financial by 99.6% during the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock worth $20,755,000 after buying an additional 483,844 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVBF has been the subject of a number of research analyst reports. Stephens reduced their price objective on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Piper Sandler reduced their target price on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $23.50.

CVB Financial Trading Up 0.8%

Shares of CVB Financial stock opened at $19.97 on Friday. CVB Financial Corp. has a 1 year low of $15.75 and a 1 year high of $24.58. The firm has a market capitalization of $2.78 billion, a PE ratio of 13.87 and a beta of 0.65. The firm's 50 day moving average is $18.35 and its 200 day moving average is $20.27.

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

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio is currently 55.17%.

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.

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