Fmr LLC Has $1.19 Million Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Fmr LLC decreased its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 28.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVBF. Nisa Investment Advisors LLC boosted its stake in shares of CVB Financial by 7.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 56,337 shares of the financial services provider’s stock worth $971,000 after acquiring an additional 4,022 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of CVB Financial by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock valued at $1,150,000 after purchasing an additional 1,100 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of CVB Financial by 10.7% in the second quarter. Panagora Asset Management Inc. now owns 287,104 shares of the financial services provider’s stock worth $4,950,000 after buying an additional 27,674 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of CVB Financial during the 2nd quarter worth $38,000. Finally, WBI Investments LLC acquired a new position in CVB Financial in the 2nd quarter valued at $177,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

Shares of CVBF stock opened at $23.03 on Tuesday. CVB Financial Corp. has a one year low of $15.71 and a one year high of $24.58. The stock has a fifty day moving average price of $21.39 and a 200 day moving average price of $18.89. The stock has a market cap of $3.22 billion, a P/E ratio of 16.10 and a beta of 0.49.

CVB Financial (NASDAQ:CVBF) last posted its earnings results 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 business had revenue of $126.45 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVBF. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler cut their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.