Voya Investment Management LLC cut its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 4.8% in the second quarter, HoldingsChannel.com reports. The fund owned 43,225 shares of the financial services provider’s stock after selling 2,203 shares during the period. Voya Investment Management LLC’s holdings in CVB Financial were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of CVB Financial during the 2nd quarter valued at approximately $204,000. Verition Fund Management LLC bought a new position in shares of CVB Financial during the 1st quarter valued at approximately $216,000. OppenheimerFunds Inc. bought a new position in shares of CVB Financial during the 2nd quarter valued at approximately $217,000. TradeLink Capital LLC bought a new position in shares of CVB Financial during the 2nd quarter valued at approximately $224,000. Finally, Fox Run Management L.L.C. bought a new position in shares of CVB Financial during the 2nd quarter valued at approximately $280,000. Institutional investors own 70.07% of the company’s stock.
CVBF stock opened at $22.36 on Tuesday. CVB Financial Corp. has a 1-year low of $21.64 and a 1-year high of $25.49. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.80 and a beta of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Shareholders of record on Wednesday, October 3rd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.56 annualized dividend and a yield of 2.50%. CVB Financial’s payout ratio is 52.34%.
A number of research analysts recently issued reports on CVBF shares. BidaskClub upgraded CVB Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Wedbush restated a “neutral” rating on shares of CVB Financial in a research note on Monday, July 16th. Piper Jaffray Companies set a $25.00 price target on CVB Financial and gave the stock a “hold” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded CVB Financial from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Tuesday, September 18th. Finally, Hovde Group set a $25.00 price target on CVB Financial and gave the stock a “hold” rating in a research note on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.50.
About CVB Financial
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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