CVB Financial Corporation (NASDAQ:CVBF) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,428,541 shares of the financial services provider’s stock after selling 47,326 shares during the period. Bank of New York Mellon Corp owned approximately 1.03% of CVB Financial worth $26,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its holdings in CVB Financial by 80.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 720 shares in the last quarter. Blue Trust Inc. boosted its position in CVB Financial by 58.8% in the 1st quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider’s stock valued at $83,000 after buying an additional 1,655 shares during the last quarter. Sterling Capital Management LLC boosted its position in CVB Financial by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider’s stock valued at $89,000 after buying an additional 3,719 shares during the last quarter. KBC Group NV boosted its position in CVB Financial by 20.4% in the 1st quarter. KBC Group NV now owns 7,231 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,226 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in CVB Financial by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider’s stock valued at $190,000 after buying an additional 878 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Price Performance

CVBF stock opened at $20.72 on Thursday. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $24.58. The company has a 50-day moving average of $19.50 and a two-hundred day moving average of $19.41. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.29 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $126.67 million during the quarter, compared to analysts’ expectations of $124.45 million. CVB Financial had a net margin of 30.24% and a return on equity of 9.32%. During the same quarter last year, the company earned $0.35 earnings per share. Equities analysts expect that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Thursday, July 10th. CVB Financial’s dividend payout ratio is presently 55.17%.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective on shares of CVB Financial from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, April 28th.

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.