Capital Research Global Investors Makes New $94.38 Million Investment in CVB Financial Corp. (NASDAQ:CVBF)

Capital Research Global Investors purchased a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,408,313 shares of the financial services provider's stock, valued at approximately $94,382,000. Capital Research Global Investors owned about 3.16% of CVB Financial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. grew its holdings in CVB Financial by 80.0% during the fourth 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 in the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of CVB Financial in the 4th quarter worth $53,000. Sterling Capital Management LLC raised its holdings in shares of CVB Financial by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of CVB Financial by 144.9% during the fourth 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 in the last quarter. Finally, KBC Group NV boosted its holdings in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after purchasing an additional 1,556 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stephens decreased their price objective on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $23.25.

CVB Financial Price Performance

Shares of NASDAQ CVBF traded down $0.45 during mid-day trading on Friday, reaching $18.46. 900,566 shares of the company's stock were exchanged, compared to its average volume of 810,434. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 12.82 and a beta of 0.62. The firm has a 50-day moving average price of $18.51 and a two-hundred day moving average price of $20.27. CVB Financial Corp. has a 52 week low of $15.75 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. The firm had revenue of $126.67 million for the quarter, compared to analysts' expectations of $124.45 million. As a group, sell-side analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio is currently 55.17%.

CVB Financial Company Profile

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.