CVB Financial Corp. (NASDAQ:CVBF) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 109.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,112 shares of the financial services provider's stock after purchasing an additional 22,525 shares during the period. Hsbc Holdings PLC's holdings in CVB Financial were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of CVB Financial by 80.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock valued at $35,000 after acquiring 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 valued at about $53,000. Sterling Capital Management LLC lifted its position in shares of CVB Financial by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock worth $89,000 after purchasing an additional 3,719 shares during the period. Smartleaf Asset Management LLC boosted its stake 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 increased 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 valued at $129,000 after buying an additional 1,556 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Down 0.1 %

Shares of NASDAQ:CVBF traded down $0.02 during trading on Wednesday, hitting $18.85. The stock had a trading volume of 570,033 shares, compared to its average volume of 807,449. CVB Financial Corp. has a 12-month low of $15.75 and a 12-month high of $24.58. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.09 and a beta of 0.65. The stock has a 50-day simple moving average of $18.35 and a two-hundred day simple moving average of $20.26.

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

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.25%. CVB Financial's dividend payout ratio (DPR) is currently 55.17%.

Analysts Set New Price Targets

CVBF has been the topic of several analyst reports. Stephens cut their target price on 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. Piper Sandler cut their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $23.50.

CVB Financial 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.