Corient Private Wealth LLC Trims Stake in CVB Financial Corp. (NASDAQ:CVBF)

Corient Private Wealth LLC cut its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 35.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,012 shares of the financial services provider’s stock after selling 10,272 shares during the period. Corient Private Wealth LLC’s holdings in CVB Financial were worth $407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of CVB Financial during the third quarter valued at approximately $8,653,000. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 74,004 shares during the period. Smartleaf Asset Management LLC grew its position in CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 2,597 shares during the last quarter. Jane Street Group LLC increased its stake in CVB Financial by 11.8% in the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock worth $2,437,000 after purchasing an additional 14,384 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of CVB Financial by 22.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 9,600 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CVBF shares. Stephens cut their price target on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.20.

CVB Financial Trading Down 2.0 %

Shares of CVB Financial stock opened at $18.46 on Friday. The stock’s fifty day moving average price is $19.85 and its 200-day moving average price is $20.34. The firm has a market cap of $2.58 billion, a P/E ratio of 12.82 and a beta of 0.46. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58.

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

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.33%. CVB Financial’s dividend payout ratio is currently 55.56%.

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.