Invesco Ltd. Cuts Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

Invesco Ltd. reduced its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,255 shares of the financial services provider’s stock after selling 15,502 shares during the period. Invesco Ltd.’s holdings in CVB Financial were worth $10,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CVBF. Bank of Montreal Can lifted its holdings in shares of CVB Financial by 10.5% during the fourth quarter. Bank of Montreal Can now owns 20,445 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 1,942 shares during the period. Cerity Partners LLC boosted its position in CVB Financial by 40.1% in the 4th quarter. Cerity Partners LLC now owns 185,885 shares of the financial services provider’s stock worth $3,736,000 after purchasing an additional 53,229 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of CVB Financial by 16.7% during the 4th quarter. Wells Fargo & Company MN now owns 120,091 shares of the financial services provider’s stock worth $2,571,000 after purchasing an additional 17,227 shares during the period. World Investment Advisors increased its holdings in shares of CVB Financial by 17.8% during the 4th quarter. World Investment Advisors now owns 26,929 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 4,075 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of CVB Financial in the 4th quarter valued at $31,064,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Price Performance

CVB Financial stock opened at $18.41 on Wednesday. The firm has a 50 day simple moving average of $18.60 and a 200-day simple moving average of $20.27. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 12.78 and a beta of 0.62. CVB Financial Corp. has a 1-year low of $15.75 and a 1-year high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Equities analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial’s dividend payout ratio is presently 55.56%.

Analysts Set New Price Targets

Separately, Stephens dropped 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.25.

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.