Bank of New York Mellon Corp cut its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,258,108 shares of the financial services provider’s stock after selling 90,005 shares during the period. Bank of New York Mellon Corp owned 1.66% of CVB Financial worth $45,275,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of CVB Financial by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,130,461 shares of the financial services provider’s stock worth $110,716,000 after purchasing an additional 287,119 shares in the last quarter. State Street Corp raised its holdings in CVB Financial by 5.3% in the 4th quarter. State Street Corp now owns 4,807,575 shares of the financial services provider’s stock valued at $103,747,000 after acquiring an additional 241,237 shares during the last quarter. Parallel Advisors LLC raised its holdings in CVB Financial by 2,180,460.9% in the 1st quarter. Parallel Advisors LLC now owns 3,903,204 shares of the financial services provider’s stock valued at $78,259,000 after acquiring an additional 3,903,025 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in CVB Financial by 12.3% in the 4th quarter. Champlain Investment Partners LLC now owns 2,594,540 shares of the financial services provider’s stock valued at $55,990,000 after acquiring an additional 284,905 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in CVB Financial by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 1,825,929 shares of the financial services provider’s stock valued at $39,403,000 after acquiring an additional 85,329 shares during the last quarter. 72.63% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CVBF opened at $18.03 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.86 and a current ratio of 0.86. CVB Financial Corp. has a fifty-two week low of $14.91 and a fifty-two week high of $22.23. The stock has a market capitalization of $2.45 billion, a P/E ratio of 13.03 and a beta of 0.71. The company has a 50 day moving average price of $19.15 and a 200 day moving average price of $20.30.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.04). CVB Financial had a return on equity of 9.91% and a net margin of 38.52%. The company had revenue of $101.95 million for the quarter, compared to analyst estimates of $114.73 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. CVB Financial’s revenue was down 18.0% compared to the same quarter last year. Research analysts forecast that CVB Financial Corp. will post 1.19 earnings per share for the current fiscal year.

CVBF has been the subject of a number of recent research reports. DA Davidson reiterated a “neutral” rating on shares of CVB Financial in a report on Monday, January 27th. Zacks Investment Research upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Finally, Hovde Group downgraded shares of CVB Financial from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $18.00 to $19.00 in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.67.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. 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.

Further Reading: Diversification Important in Investing

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).

Institutional Ownership by Quarter for CVB Financial (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.