Prudential Financial Inc. Sells 26,041 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Prudential Financial Inc. cut its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,240 shares of the financial services provider’s stock after selling 26,041 shares during the quarter. Prudential Financial Inc.’s holdings in CVB Financial were worth $3,001,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 918 shares in the last quarter. KBC Group NV raised its position in CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after buying an additional 1,556 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in CVB Financial by 9.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 20,401 shares of the financial services provider’s stock valued at $437,000 after acquiring an additional 1,690 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CVB Financial by 5.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,367 shares of the financial services provider’s stock valued at $821,000 after acquiring an additional 2,021 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of CVB Financial by 0.8% in the fourth quarter. Swiss National Bank now owns 274,700 shares of the financial services provider’s stock worth $5,881,000 after acquiring an additional 2,100 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CVBF. Stephens dropped their target price 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 raised their price target on 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 stock. According to MarketBeat.com, CVB Financial currently has an average rating of “Hold” and an average target price of $22.20.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $18.44 on Thursday. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58. The company’s fifty day simple moving average is $19.71 and its 200-day simple moving average is $20.37. The stock has a market capitalization of $2.57 billion, a PE ratio of 12.81 and a beta of 0.46.

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

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, April 2nd. CVB Financial’s dividend payout ratio is 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.