Chartwell Investment Partners LLC Sells 44,984 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Chartwell Investment Partners LLC decreased its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 401,249 shares of the financial services provider’s stock after selling 44,984 shares during the period. Chartwell Investment Partners LLC owned 0.29% of CVB Financial worth $7,150,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of CVB Financial by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after buying an additional 58,774 shares during the period. Dimensional Fund Advisors LP raised its stake in CVB Financial by 16.9% in the 2nd 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. Sei Investments Co. raised its stake in CVB Financial by 2.9% in the 2nd quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider’s stock worth $10,843,000 after purchasing an additional 17,483 shares in the last quarter. Bessemer Group Inc. raised its stake in CVB Financial by 7.3% in the 1st quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock worth $9,629,000 after purchasing an additional 36,894 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in CVB Financial by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 291,836 shares of the financial services provider’s stock worth $5,031,000 after purchasing an additional 20,498 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVBF. Stephens lifted their price objective on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Piper Sandler dropped their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, CVB Financial has a consensus rating of “Hold” and a consensus price target of $20.80.

CVB Financial Trading Up 4.9 %

Shares of NASDAQ:CVBF opened at $23.07 on Tuesday. The firm has a 50 day moving average of $18.59 and a 200-day moving average of $17.73. The stock has a market capitalization of $3.22 billion, a PE ratio of 16.13 and a beta of 0.44. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $23.15.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. On average, research analysts predict that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is presently 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.