GAMMA Investing LLC Purchases 88,957 Shares of CVB Financial Corp. (NASDAQ:CVBF)

GAMMA Investing LLC boosted its holdings in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 1,845.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,777 shares of the financial services provider's stock after acquiring an additional 88,957 shares during the quarter. GAMMA Investing LLC owned about 0.07% of CVB Financial worth $1,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. increased its stake in CVB Financial by 80.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in CVB Financial in the 4th quarter worth about $53,000. Sterling Capital Management LLC increased its stake in 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 in the last quarter. Smartleaf Asset Management LLC increased its stake in 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 worth $95,000 after purchasing an additional 2,597 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in CVB Financial in the 4th quarter worth about $201,000. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Trading Down 2.1%

NASDAQ:CVBF traded down $0.40 on Friday, hitting $18.54. 547,726 shares of the company's stock traded hands, compared to its average volume of 819,228. CVB Financial Corp. has a 1 year low of $15.99 and a 1 year high of $24.58. The firm has a 50-day moving average price of $18.62 and a 200-day moving average price of $19.83. The company has a market cap of $2.55 billion, a PE ratio of 12.88 and a beta of 0.66.

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 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 company had revenue of $126.67 million for the quarter, compared to analysts' expectations of $124.45 million. During the same quarter in the previous year, the business posted $0.35 EPS. On average, research analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced 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 of this dividend was Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.31%. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price target 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.

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.