Voya Investment Management LLC Decreases Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Voya Investment Management LLC cut its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 81.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,964 shares of the financial services provider's stock after selling 175,101 shares during the period. Voya Investment Management LLC's holdings in CVB Financial were worth $856,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider's stock worth $6,477,000 after purchasing an additional 74,004 shares during the last quarter. Smartleaf Asset Management LLC raised its stake 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 buying an additional 2,597 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of CVB Financial by 22.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider's stock worth $1,131,000 after buying an additional 9,600 shares during the last quarter. Wells Fargo & Company MN grew its stake in CVB Financial by 16.7% in the 4th quarter. Wells Fargo & Company MN now owns 120,091 shares of the financial services provider's stock valued at $2,571,000 after acquiring an additional 17,227 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in CVB Financial during the 4th quarter valued at about $699,000. Hedge funds and other institutional investors own 74.18% of the company's stock.

CVB Financial Price Performance

CVB Financial stock opened at $18.85 on Thursday. The firm's 50-day moving average is $18.32 and its two-hundred day moving average is $20.25. The stock has a market capitalization of $2.62 billion, a P/E ratio of 13.09 and a beta of 0.65. CVB Financial Corp. has a 12-month low of $15.75 and a 12-month high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its 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 net margin of 29.32% and a return on equity of 9.35%. The firm had revenue of $126.67 million during the quarter, compared to analysts' expectations of $124.45 million. During the same period in the previous year, the company earned $0.35 EPS. As a group, analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The firm 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 of this dividend was Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.25%. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Analysts Set New Price Targets

CVBF has been the topic of several recent research reports. Stephens reduced their price target on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a 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 research note on Monday, April 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.

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