Thrivent Financial for Lutherans Sells 7,064 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Thrivent Financial for Lutherans reduced its position in CVB Financial Corp. (NASDAQ:CVBF) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,605 shares of the financial services provider’s stock after selling 7,064 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of CVB Financial worth $1,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of CVB Financial during the first quarter valued at $1,205,000. GSA Capital Partners LLP bought a new position in shares of CVB Financial during the first quarter valued at $1,606,000. Bessemer Group Inc. lifted its holdings in shares of CVB Financial by 7.3% during the first quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock valued at $9,629,000 after acquiring an additional 36,894 shares during the period. Sei Investments Co. lifted its holdings in shares of CVB Financial by 15.5% during the first quarter. Sei Investments Co. now owns 611,438 shares of the financial services provider’s stock valued at $10,908,000 after acquiring an additional 82,125 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of CVB Financial during the fourth quarter valued at $268,000. 74.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVBF shares. Wedbush cut their price objective on CVB Financial from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Stephens lifted their price objective on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, CVB Financial presently has an average rating of “Hold” and an average price target of $19.75.

CVB Financial Stock Down 2.4 %

Shares of NASDAQ CVBF opened at $17.39 on Wednesday. The firm’s 50-day simple moving average is $17.77 and its 200 day simple moving average is $17.24. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 11.44 and a beta of 0.45. CVB Financial Corp. has a 12-month low of $14.62 and a 12-month high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $125.27 million during the quarter, compared to analysts’ expectations of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. On average, equities analysts expect that CVB Financial Corp. will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.60%. CVB Financial’s dividend payout ratio is currently 52.63%.

CVB Financial 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.