Fmr LLC Sells 25,977 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Fmr LLC cut its position in CVB Financial Corp. (NASDAQ:CVBF) by 28.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,928 shares of the financial services provider’s stock after selling 25,977 shares during the period. Fmr LLC’s holdings in CVB Financial were worth $1,193,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CVBF. American Century Companies Inc. lifted its position in CVB Financial by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after buying an additional 58,774 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CVB Financial by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after purchasing an additional 816,176 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in CVB Financial by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after purchasing an additional 181,769 shares during the last quarter. Sei Investments Co. increased its stake in shares of CVB Financial by 2.9% in the 2nd quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider’s stock valued at $10,843,000 after buying an additional 17,483 shares during the period. Finally, Public Sector Pension Investment Board increased its position in CVB Financial by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 291,836 shares of the financial services provider’s stock worth $5,031,000 after purchasing an additional 20,498 shares during the period. 74.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVBF has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Finally, 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 note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.80.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $23.03 on Tuesday. The company has a 50 day moving average price of $21.39 and a two-hundred day moving average price of $18.89. The company has a market capitalization of $3.22 billion, a PE ratio of 16.10 and a beta of 0.49. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $126.45 million during 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%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. On average, sell-side analysts forecast that CVB Financial Corp. will post 1.43 earnings per share for the current year.

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.