The Manufacturers Life Insurance Company Reduces Holdings in CVB Financial Corp. (NASDAQ:CVBF)

The Manufacturers Life Insurance Company decreased its position in CVB Financial Corp. (NASDAQ:CVBFFree Report) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,858 shares of the financial services provider’s stock after selling 52,844 shares during the period. The Manufacturers Life Insurance Company’s holdings in CVB Financial were worth $11,909,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CVBF. New York State Common Retirement Fund grew its stake in shares of CVB Financial by 25.1% in the 3rd quarter. New York State Common Retirement Fund now owns 85,789 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 17,214 shares during the period. Swiss National Bank lifted its holdings in shares of CVB Financial by 1.0% in the 3rd quarter. Swiss National Bank now owns 306,200 shares of the financial services provider’s stock worth $5,074,000 after acquiring an additional 2,900 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVB Financial by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock worth $59,558,000 after acquiring an additional 213,038 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of CVB Financial by 15.4% in the 3rd quarter. Deutsche Bank AG now owns 63,464 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 8,489 shares during the last quarter. Finally, Clifford Capital Partners LLC lifted its holdings in shares of CVB Financial by 3.9% in the 3rd quarter. Clifford Capital Partners LLC now owns 898,699 shares of the financial services provider’s stock worth $14,891,000 after acquiring an additional 33,859 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wedbush restated a “neutral” rating and issued a $19.00 price objective on shares of CVB Financial in a report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a report on Monday, April 22nd. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Finally, Stephens reiterated an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, CVB Financial has an average rating of “Hold” and a consensus target price of $19.00.

View Our Latest Stock Analysis on CVB Financial

CVB Financial Stock Down 1.0 %

CVB Financial stock opened at $16.29 on Tuesday. The firm has a market cap of $2.27 billion, a PE ratio of 10.72 and a beta of 0.46. CVB Financial Corp. has a 52-week low of $12.82 and a 52-week high of $21.77. The company’s 50 day moving average is $16.67 and its two-hundred day moving average is $17.73.

CVB Financial (NASDAQ:CVBFGet Free Report) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. During the same period in the prior year, the business earned $0.42 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities research analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were issued a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.91%. CVB Financial’s payout ratio is 52.63%.

CVB Financial Company Profile

(Free Report)

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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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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