Mutual of America Capital Management LLC Sells 2,056 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Mutual of America Capital Management LLC reduced its stake in CVB Financial Corp. (NASDAQ:CVBF) by 9.4% during the 3rd quarter, Holdings Channel reports. The fund owned 19,749 shares of the financial services provider’s stock after selling 2,056 shares during the period. Mutual of America Capital Management LLC’s holdings in CVB Financial were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of CVB Financial in the third quarter valued at approximately $27,000. nVerses Capital LLC boosted its stake in CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,400 shares during the period. Versant Capital Management Inc grew its holdings in CVB Financial by 832.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,574 shares in the last quarter. Innealta Capital LLC bought a new position in CVB Financial during the 2nd quarter worth $38,000. Finally, GAMMA Investing LLC lifted its holdings in shares of CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after buying an additional 780 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $23.83 on Thursday. The firm has a 50 day moving average of $20.02 and a 200-day moving average of $18.29. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The stock has a market capitalization of $3.33 billion, a PE ratio of 16.66 and a beta of 0.44.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data 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 business had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, research analysts predict that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is presently 55.94%.

Wall Street Analyst Weigh In

Several research firms recently commented on CVBF. Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Piper Sandler dropped their price target on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.80.

About CVB Financial

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.