Everence Capital Management Inc. Sells 850 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Everence Capital Management Inc. cut its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,930 shares of the financial services provider’s stock after selling 850 shares during the period. Everence Capital Management Inc.’s holdings in CVB Financial were worth $320,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CVBF. JPMorgan Chase & Co. lifted its position in shares of CVB Financial by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock valued at $6,477,000 after buying an additional 74,004 shares in the last quarter. Geode Capital Management LLC lifted its holdings in CVB Financial by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after purchasing an additional 15,628 shares in the last quarter. Barclays PLC boosted its position in shares of CVB Financial by 79.5% in the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock worth $5,186,000 after purchasing an additional 128,869 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of CVB Financial in the third quarter worth $597,000. Finally, Jane Street Group LLC raised its position in shares of CVB Financial by 11.8% during the 3rd quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock valued at $2,437,000 after purchasing an additional 14,384 shares during the period. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 0.1 %

Shares of CVB Financial stock opened at $21.17 on Tuesday. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $24.58. The business has a 50-day moving average price of $22.16 and a 200-day moving average price of $19.41. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 14.80 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. On average, equities analysts expect that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.78%. CVB Financial’s dividend payout ratio (DPR) is currently 55.94%.

Wall Street Analyst Weigh In

CVBF has been the subject of several recent analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Piper Sandler dropped their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods increased their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, CVB Financial has a consensus rating of “Hold” and an average price target of $21.80.

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.