Mason & Associates Inc Decreases Stake in CVB Financial Corp. (NASDAQ:CVBF)

Mason & Associates Inc decreased its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 24.5% in the fourth quarter, HoldingsChannel reports. The firm owned 66,040 shares of the financial services provider’s stock after selling 21,390 shares during the quarter. Mason & Associates Inc’s holdings in CVB Financial were worth $1,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CVBF. Dimensional Fund Advisors LP increased its stake in shares of CVB Financial by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock worth $97,399,000 after purchasing an additional 816,176 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of CVB Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after acquiring an additional 181,769 shares during the last quarter. Geode Capital Management LLC lifted its holdings in CVB Financial by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after acquiring an additional 15,628 shares during the last quarter. Sei Investments Co. boosted its stake in CVB Financial by 2.9% during the second quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider’s stock worth $10,843,000 after buying an additional 17,483 shares during the period. Finally, Wellington Management Group LLP acquired a new position in CVB Financial during the third quarter worth $8,653,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on CVBF shares. Piper Sandler reduced their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, CVB Financial has a consensus rating of “Hold” and a consensus price target of $21.80.

CVB Financial Trading Up 1.4 %

Shares of CVBF opened at $20.77 on Thursday. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The stock has a market cap of $2.90 billion, a P/E ratio of 14.52 and a beta of 0.50. The company has a 50-day moving average of $22.29 and a two-hundred day moving average of $19.59.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, analysts forecast that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is 55.94%.

CVB Financial Company 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.