Ameriprise Financial Inc. Lowers Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Ameriprise Financial Inc. decreased its stake in CVB Financial Corp. (NASDAQ:CVBF) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 313,747 shares of the financial services provider’s stock after selling 25,625 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.22% of CVB Financial worth $6,724,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings 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 worth $95,000 after purchasing an additional 2,597 shares during the period. Nisa Investment Advisors LLC increased its stake in 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 acquiring an additional 9,600 shares during the last quarter. Wells Fargo & Company MN increased its stake in CVB Financial by 16.7% during the fourth quarter. Wells Fargo & Company MN now owns 120,091 shares of the financial services provider’s stock worth $2,571,000 after acquiring an additional 17,227 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in CVB Financial during the fourth quarter worth $699,000. Finally, Barclays PLC boosted its position in shares of CVB Financial by 79.5% during the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock worth $5,186,000 after buying an additional 128,869 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Performance

CVBF opened at $18.97 on Friday. The business’s 50-day simple moving average is $18.42 and its 200-day simple moving average is $20.28. CVB Financial Corp. has a one year low of $15.75 and a one year high of $24.58. The stock has a market capitalization of $2.61 billion, a P/E ratio of 13.17 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $124.45 million. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, equities research analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.22%. The ex-dividend date was Wednesday, April 2nd. CVB Financial’s payout ratio is 55.17%.

Analysts Set New Price Targets

CVBF has been the subject of several research analyst reports. Piper Sandler lowered their price target on CVB Financial from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Stephens decreased their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, January 27th.

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.