Thrivent Financial for Lutherans Grows Stake in CVB Financial Corp. (NASDAQ:CVBF)

Thrivent Financial for Lutherans boosted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 87.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,159 shares of the financial services provider’s stock after buying an additional 99,554 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.15% of CVB Financial worth $3,798,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in CVB Financial during the third quarter worth about $27,000. nVerses Capital LLC increased its stake in CVB Financial by 466.7% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,400 shares during the period. Versant Capital Management Inc raised its stake in shares of CVB Financial by 832.8% in the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,574 shares in the last quarter. Innealta Capital LLC acquired a new stake in CVB Financial in the 2nd quarter valued at about $38,000. Finally, GAMMA Investing LLC raised its holdings in CVB Financial by 21.7% in the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 780 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Trading Up 2.8 %

CVB Financial stock opened at $23.83 on Monday. The stock has a 50 day moving average of $19.67 and a two-hundred day moving average of $18.15. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $23.99. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 16.66 and a beta of 0.44.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $126.45 million for the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. CVB Financial’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. Equities analysts predict that CVB Financial Corp. will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.36%. CVB Financial’s dividend payout ratio (DPR) is 55.94%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised CVB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Piper Sandler cut their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.80.

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.