CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 80.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 32,445 shares of the financial services provider’s stock after selling 130,489 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CVB Financial were worth $695,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVBF. Natixis Advisors LLC grew its holdings in CVB Financial by 2.1% during the 3rd quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 545 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in CVB Financial by 87.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock valued at $3,798,000 after acquiring an additional 99,554 shares during the last quarter. Intech Investment Management LLC boosted its stake in CVB Financial by 171.2% during the 3rd quarter. Intech Investment Management LLC now owns 37,134 shares of the financial services provider’s stock valued at $662,000 after acquiring an additional 23,441 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CVB Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after acquiring an additional 181,769 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in CVB Financial by 9.8% during the 3rd quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock valued at $4,716,000 after acquiring an additional 23,682 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVBF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens reduced their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, CVB Financial has an average rating of “Hold” and an average price target of $22.20.

CVB Financial Stock Performance

CVB Financial stock opened at $18.70 on Friday. The firm’s 50-day moving average is $20.00 and its 200-day moving average is $20.27. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58. The company has a market cap of $2.61 billion, a P/E ratio of 12.99 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. As a group, sell-side analysts predict that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.28%. CVB Financial’s dividend payout ratio is presently 55.56%.

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.