Prudential Financial Inc. lessened its position in CVB Financial Corp. (NASDAQ:CVBF) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 167,733 shares of the financial services provider’s stock after selling 4,250 shares during the period. Prudential Financial Inc. owned about 0.12% of CVB Financial worth $3,393,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund bought a new position in shares of CVB Financial in the fourth quarter worth approximately $39,000. Strs Ohio lifted its position in CVB Financial by 144.0% during the fourth quarter. Strs Ohio now owns 6,100 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 3,600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CVB Financial by 13.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,115 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 961 shares during the period. Bank of Montreal Can lifted its position in CVB Financial by 8.9% during the fourth quarter. Bank of Montreal Can now owns 9,789 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 797 shares during the period. Finally, Capital Fund Management S.A. bought a new position in CVB Financial during the third quarter valued at approximately $203,000. Hedge funds and other institutional investors own 63.93% of the company’s stock.
A number of analysts have commented on CVBF shares. BidaskClub cut shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. FIG Partners cut shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a research note on Thursday, January 24th. Keefe, Bruyette & Woods set a $23.00 price objective on shares of CVB Financial and gave the stock a “hold” rating in a research note on Thursday, December 20th. Finally, Piper Jaffray Companies raised shares of CVB Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $25.00 in a research note on Monday, January 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.90.
CVBF opened at $21.80 on Friday. The firm has a market cap of $3.01 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.54 and a beta of 1.18. CVB Financial Corp. has a fifty-two week low of $19.21 and a fifty-two week high of $24.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.85 and a quick ratio of 0.85.
CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 23rd. The financial services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The company had revenue of $123.77 million for the quarter, compared to analysts’ expectations of $116.78 million. CVB Financial had a net margin of 37.50% and a return on equity of 10.45%. During the same period in the previous year, the business posted $0.28 earnings per share. As a group, research analysts predict that CVB Financial Corp. will post 1.47 EPS for the current year.
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About CVB Financial
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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