Charles Schwab Investment Management Inc. increased its stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,396,677 shares of the financial services provider's stock after purchasing an additional 240,159 shares during the period. Charles Schwab Investment Management Inc. owned 3.88% of CVB Financial worth $99,623,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CVBF. Federated Hermes Inc. boosted its holdings in shares of CVB Financial by 1.3% in the first quarter. Federated Hermes Inc. now owns 42,126 shares of the financial services provider's stock valued at $778,000 after acquiring an additional 539 shares in the last quarter. Bolthouse Investments LLC lifted its position in shares of CVB Financial by 1.0% in the 1st quarter. Bolthouse Investments LLC now owns 57,524 shares of the financial services provider's stock valued at $1,062,000 after acquiring an additional 546 shares in the last quarter. QRG Capital Management Inc. lifted its position in CVB Financial by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider's stock worth $190,000 after buying an additional 878 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in CVB Financial by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,861 shares of the financial services provider's stock worth $297,000 after buying an additional 880 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of CVB Financial by 20.4% during the 1st quarter. KBC Group NV now owns 7,231 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 1,226 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.
CVB Financial Stock Down 1.6%
CVBF traded down $0.32 during trading on Friday, hitting $19.34. 621,793 shares of the company traded hands, compared to its average volume of 819,047. The firm has a market cap of $2.67 billion, a P/E ratio of 13.34 and a beta of 0.69. CVB Financial Corporation has a one year low of $16.01 and a one year high of $24.58. The stock's fifty day moving average is $19.66 and its 200 day moving average is $19.22.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $126.35 million for the quarter, compared to the consensus estimate of $127.95 million. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. During the same period last year, the firm posted $0.36 earnings per share. On average, equities research analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.
CVB Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.1%. The ex-dividend date was Thursday, July 10th. CVB Financial's dividend payout ratio is presently 55.17%.
Analyst Ratings Changes
Several brokerages have recently weighed in on CVBF. Keefe, Bruyette & Woods decreased their target price on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Piper Sandler upped their price target on shares of CVB Financial from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 28th.
Check Out Our Latest Stock Report on CVB Financial
Insiders Place Their Bets
In other CVB Financial news, Director George A. Borba, Jr. bought 53,567 shares of CVB Financial stock in a transaction on Monday, August 4th. The shares were acquired at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the completion of the purchase, the director directly owned 718,688 shares in the company, valued at approximately $13,417,904.96. This trade represents a 8.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is owned by insiders.
About CVB Financial
(
Free Report)
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.
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