Dimensional Fund Advisors LP Purchases 162,422 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Dimensional Fund Advisors LP lifted its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,357,405 shares of the financial services provider's stock after buying an additional 162,422 shares during the period. Dimensional Fund Advisors LP owned about 4.55% of CVB Financial worth $136,116,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVB Financial by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider's stock worth $110,401,000 after acquiring an additional 204,164 shares during the last quarter. Victory Capital Management Inc. raised its position in CVB Financial by 210.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock worth $31,858,000 after purchasing an additional 1,009,146 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in CVB Financial in the fourth quarter worth $31,064,000. Norges Bank purchased a new stake in CVB Financial during the fourth quarter valued at about $27,724,000. Finally, Wellington Management Group LLP grew its stake in shares of CVB Financial by 99.6% during the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock valued at $20,755,000 after buying an additional 483,844 shares during the last quarter. Institutional investors own 74.18% of the company's stock.

CVB Financial Stock Up 0.7 %

Shares of NASDAQ:CVBF traded up $0.13 on Thursday, hitting $18.67. The company had a trading volume of 140,510 shares, compared to its average volume of 807,028. CVB Financial Corp. has a 1 year low of $15.75 and a 1 year high of $24.58. The firm's 50-day simple moving average is $18.42 and its two-hundred day simple moving average is $20.27. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 12.99 and a beta of 0.62.

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 (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $126.67 million during the quarter, compared to analyst estimates of $124.45 million. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. During the same period last year, the business earned $0.35 earnings per share. Equities research analysts anticipate that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. CVB Financial's dividend payout ratio is currently 55.17%.

Analyst Upgrades and Downgrades

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

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.