First Trust Advisors LP lessened its position in CVB Financial Corp. (NASDAQ:CVBF) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 156,395 shares of the financial services provider’s stock after selling 15,078 shares during the quarter. First Trust Advisors LP’s holdings in CVB Financial were worth $3,685,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Gradient Investments LLC purchased a new stake in shares of CVB Financial in the 4th quarter valued at $172,000. CIBC Asset Management Inc purchased a new stake in shares of CVB Financial in the 3rd quarter valued at $205,000. Teacher Retirement System of Texas purchased a new stake in shares of CVB Financial in the 3rd quarter valued at $207,000. Trilogy Capital Inc. purchased a new stake in shares of CVB Financial in the 4th quarter valued at $210,000. Finally, Jane Street Group LLC purchased a new stake in shares of CVB Financial in the 3rd quarter valued at $243,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Several research firms recently issued reports on CVBF. BidaskClub upgraded CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 price objective on shares of CVB Financial in a report on Thursday, March 1st. Zacks Investment Research downgraded CVB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Hovde Group set a $25.00 price objective on CVB Financial and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $24.00 price objective on shares of CVB Financial in a report on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $24.33.
CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. CVB Financial had a return on equity of 11.06% and a net margin of 31.70%. The firm had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $82.00 million. During the same period in the previous year, the firm posted $0.25 EPS. analysts anticipate that CVB Financial Corp. will post 1.29 earnings per share for the current fiscal year.
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About CVB Financial
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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