Pinebridge Investments L.P. decreased its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 15.1% in the fourth quarter, Holdings Channel reports. The firm owned 57,778 shares of the financial services provider’s stock after selling 10,291 shares during the quarter. Pinebridge Investments L.P.’s holdings in CVB Financial were worth $1,361,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gradient Investments LLC bought a new position in CVB Financial during the 4th quarter valued at approximately $172,000. CIBC Asset Management Inc bought a new position in CVB Financial during the 3rd quarter valued at approximately $205,000. Teacher Retirement System of Texas bought a new position in CVB Financial during the 3rd quarter valued at approximately $207,000. Investment House LLC bought a new position in CVB Financial during the 3rd quarter valued at approximately $208,000. Finally, Trilogy Capital Inc. bought a new position in CVB Financial during the 4th quarter valued at approximately $210,000. 69.02% of the stock is owned by institutional investors and hedge funds.
CVBF has been the subject of a number of recent analyst reports. ValuEngine lowered CVB Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 25th. Sandler O’Neill reaffirmed a “hold” rating and set a $24.00 price target on shares of CVB Financial in a research report on Thursday, January 4th. Finally, BidaskClub raised CVB Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Eight equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $23.17.
CVB Financial Corp. (NASDAQ:CVBF) opened at $23.37 on Friday. CVB Financial Corp. has a 52-week low of $19.58 and a 52-week high of $25.49. The stock has a market capitalization of $2,575.02, a P/E ratio of 21.84, a PEG ratio of 1.93 and a beta of 1.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.69 and a quick ratio of 0.69.
CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. CVB Financial had a return on equity of 11.06% and a net margin of 31.70%. The firm had revenue of $83.86 million during the quarter, compared to analyst estimates of $82.00 million. During the same quarter in the prior year, the company earned $0.25 EPS. research analysts expect that CVB Financial Corp. will post 1.27 earnings per share for the current fiscal year.
About CVB Financial
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
Want to see what other hedge funds are holding CVBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVB Financial Corp. (NASDAQ:CVBF).
Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.