Citigroup Inc. Sells 69,401 Shares of CVB Financial Corporation $CVBF

Citigroup Inc. reduced its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF) by 34.9% in the third quarter, HoldingsChannel.com reports. The fund owned 129,212 shares of the financial services provider’s stock after selling 69,401 shares during the quarter. Citigroup Inc.’s holdings in CVB Financial were worth $2,443,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CVBF. Jupiter Asset Management Ltd. acquired a new position in shares of CVB Financial in the 3rd quarter valued at about $896,000. GSA Capital Partners LLP grew its stake in CVB Financial by 194.6% during the third quarter. GSA Capital Partners LLP now owns 65,909 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 43,537 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in CVB Financial by 11.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 110,497 shares of the financial services provider’s stock worth $2,089,000 after purchasing an additional 11,212 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in CVB Financial by 14.4% in the third quarter. Public Sector Pension Investment Board now owns 505,294 shares of the financial services provider’s stock worth $9,555,000 after purchasing an additional 63,632 shares in the last quarter. Finally, LSV Asset Management acquired a new position in CVB Financial in the third quarter valued at approximately $2,324,000. 74.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVBF shares. Weiss Ratings restated a “hold (c)” rating on shares of CVB Financial in a report on Monday, December 29th. Wall Street Zen lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Finally, DA Davidson boosted their target price on shares of CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.17.

CVB Financial Stock Down 1.7%

Shares of NASDAQ:CVBF opened at $18.91 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.72. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $21.48. The business’s 50 day simple moving average is $19.84 and its two-hundred day simple moving average is $19.55. The firm has a market cap of $2.57 billion, a P/E ratio of 12.61 and a beta of 0.67.

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

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Monday, December 29th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, December 29th. CVB Financial’s payout ratio is 53.33%.

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.