Capital Research Global Investors Lowers Holdings in CVB Financial Corporation $CVBF

Capital Research Global Investors decreased its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,149,618 shares of the financial services provider’s stock after selling 210,263 shares during the quarter. Capital Research Global Investors’ holdings in CVB Financial were worth $40,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in CVB Financial by 28.7% in the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 8,432 shares during the period. AQR Capital Management LLC increased its position in CVB Financial by 36.6% during the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 12,992 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CVB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock valued at $1,456,000 after purchasing an additional 3,442 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of CVB Financial by 848.1% in the 1st quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CVB Financial by 9.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock worth $8,458,000 after purchasing an additional 38,250 shares during the period. 74.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVBF has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. DA Davidson upped 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, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

CVB Financial Stock Up 0.3%

NASDAQ:CVBF opened at $18.86 on Friday. CVB Financial Corporation has a fifty-two week low of $16.01 and a fifty-two week high of $21.48. The stock has a market capitalization of $2.56 billion, a P/E ratio of 12.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50-day simple moving average is $19.85 and its 200-day simple moving average is $19.53.

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

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.