Algert Global LLC Invests $271,000 in CVB Financial Corp. (NASDAQ:CVBF)

Algert Global LLC acquired a new position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,673 shares of the financial services provider's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its position in shares of CVB Financial by 80.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after buying an additional 720 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of CVB Financial during the 4th quarter worth about $53,000. Sterling Capital Management LLC grew its position in shares of CVB Financial by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock worth $89,000 after buying an additional 3,719 shares during the period. Smartleaf Asset Management LLC grew its position in shares of CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 2,597 shares during the period. Finally, KBC Group NV grew its position in shares of CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 1,556 shares during the period. 74.18% of the stock is owned by institutional investors.

CVB Financial Stock Performance

NASDAQ CVBF traded down $0.19 during trading on Friday, hitting $19.78. The stock had a trading volume of 579,628 shares, compared to its average volume of 809,670. The company has a market capitalization of $2.73 billion, a PE ratio of 13.74 and a beta of 0.65. The company's 50-day moving average price is $18.37 and its two-hundred day moving average price is $20.29. CVB Financial Corp. has a 12 month low of $15.75 and a 12 month high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. The company had revenue of $126.67 million for the quarter, compared to analysts' expectations of $124.45 million. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, equities analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Wednesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stephens decreased their price objective on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Piper Sandler cut their target price on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.50.

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.