Silvercrest Asset Management Group LLC Decreases Stake in CVB Financial Corp. (NASDAQ:CVBF)

Silvercrest Asset Management Group LLC lowered its stake 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 disclosure with the Securities & Exchange Commission. The fund owned 3,577,558 shares of the financial services provider's stock after selling 249,167 shares during the quarter. Silvercrest Asset Management Group LLC owned about 2.56% of CVB Financial worth $76,596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVBF. Nomura Asset Management Co. Ltd. grew its position in shares of 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. bought a new stake in shares of CVB Financial in the 4th quarter worth about $53,000. Sterling Capital Management LLC increased its holdings in shares of CVB Financial by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after acquiring an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 2,597 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 1,556 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company's stock.

CVB Financial Stock Performance

CVBF traded down $0.37 during midday trading on Wednesday, hitting $19.22. The company had a trading volume of 208,540 shares, compared to its average volume of 772,453. The firm's 50-day simple moving average is $18.42 and its 200-day simple moving average is $20.28. CVB Financial Corp. has a twelve month low of $15.75 and a twelve month high of $24.58. The company has a market capitalization of $2.65 billion, a PE ratio of 13.35 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $124.45 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. As a group, sell-side analysts anticipate that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were paid 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 4.16%. CVB Financial's payout ratio is 55.17%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVBF. Stephens lowered their target price on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Piper Sandler decreased their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, CVB Financial currently has an average rating of "Hold" and a consensus target price of $23.50.

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.