American Century Companies Inc. Sells 960,613 Shares of CVB Financial Corporation $CVBF

American Century Companies Inc. lessened its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 36.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,662,003 shares of the financial services provider’s stock after selling 960,613 shares during the quarter. American Century Companies Inc. owned approximately 1.21% of CVB Financial worth $31,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVBF. Norges Bank bought a new stake in shares of CVB Financial in the second quarter valued at about $28,320,000. Arrowstreet Capital Limited Partnership bought a new position in CVB Financial during the 2nd quarter worth about $5,636,000. Bessemer Group Inc. grew its holdings in CVB Financial by 29.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock worth $20,720,000 after acquiring an additional 249,490 shares in the last quarter. Jane Street Group LLC purchased a new position in CVB Financial during the 1st quarter valued at about $4,461,000. Finally, Edgestream Partners L.P. purchased a new position in CVB Financial during the 2nd quarter valued at about $3,598,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVBF. DA Davidson upped their price target on shares of CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, CVB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

CVB Financial Price Performance

CVBF opened at $18.91 on Friday. The firm has a market capitalization of $2.57 billion, a PE ratio of 12.61 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.72 and a quick ratio of 0.73. The business’s 50-day moving average is $19.84 and its two-hundred day moving average is $19.55. CVB Financial Corporation has a 1 year low of $16.01 and a 1 year high of $21.48.

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

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. CVB Financial’s dividend payout ratio is presently 53.33%.

About CVB Financial

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.