JPMorgan Chase & Co. Sells 95,079 Shares of CVB Financial Corporation $CVBF

JPMorgan Chase & Co. cut its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 34.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,967 shares of the financial services provider’s stock after selling 95,079 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.13% of CVB Financial worth $3,365,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVBF. Salomon & Ludwin LLC bought a new stake in CVB Financial during the third quarter worth about $25,000. Hantz Financial Services Inc. increased its stake in shares of CVB Financial by 394.6% during the third quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 2,790 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of CVB Financial by 26.8% during the third quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 854 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of CVB Financial during the second quarter valued at approximately $103,000. Finally, GAMMA Investing LLC boosted its position in shares of CVB Financial by 10.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,384 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 619 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $19.66 on Friday. CVB Financial Corporation has a twelve month low of $16.01 and a twelve month high of $21.48. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $19.71 and its 200 day moving average is $19.41. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 13.11 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $133.85 million during the quarter, compared to analyst estimates of $135.45 million. CVB Financial had a net margin of 32.28% and a return on equity of 9.25%. During the same period in the previous year, the business earned $0.36 EPS. Research analysts anticipate that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 4.1%. CVB Financial’s dividend payout ratio is currently 53.33%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. DA Davidson boosted their target price on CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Friday, December 19th. Finally, Wall Street Zen downgraded CVB Financial from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

CVB Financial Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.