Dimensional Fund Advisors LP Buys 400,670 Shares of CVB Financial Corporation $CVBF

Key Points

• Dimensional Fund Advisors LP increased its stake in CVB Financial Corporation by 6.3%, now owning 6,758,075 shares valued at approximately $124.75 million.
• CVB Financial recently reported a quarterly EPS of $0.36, exceeding analysts' expectations, while also declaring a quarterly dividend of $0.20 per share.
• Research analysts have set varying target prices for CVB Financial, with a consensus price target of $23.25 and a current consensus rating of "Moderate Buy."

Dimensional Fund Advisors LP grew its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,758,075 shares of the financial services provider's stock after purchasing an additional 400,670 shares during the period. Dimensional Fund Advisors LP owned approximately 4.86% of CVB Financial worth $124,752,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CVBF. Blue Trust Inc. lifted its holdings in shares of CVB Financial by 58.8% during the first quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 1,655 shares during the last quarter. KBC Group NV lifted its holdings in shares of CVB Financial by 20.4% during the first 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 during the last quarter. Headlands Technologies LLC purchased a new position in shares of CVB Financial during the first quarter valued at approximately $163,000. QRG Capital Management Inc. lifted its holdings in shares of CVB Financial by 9.4% during the first quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider's stock valued at $190,000 after purchasing an additional 878 shares during the last quarter. Finally, TrueMark Investments LLC purchased a new position in shares of CVB Financial during the first quarter valued at approximately $201,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Price Performance

NASDAQ CVBF traded up $0.17 during mid-day trading on Wednesday, reaching $20.43. The stock had a trading volume of 464,149 shares, compared to its average volume of 646,248. CVB Financial Corporation has a 1 year low of $16.01 and a 1 year high of $24.58. The stock has a market cap of $2.82 billion, a PE ratio of 14.09 and a beta of 0.69. The company has a fifty day moving average price of $19.83 and a 200 day moving average price of $19.18.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. The business had revenue of $126.35 million during the quarter, compared to the consensus estimate of $127.95 million. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, equities research analysts expect that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 10th. CVB Financial's payout ratio is 55.17%.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. bought 53,567 shares of the business's stock in a transaction on Monday, August 4th. The stock was acquired at an average price of $18.67 per share, with a total value of $1,000,095.89. Following the transaction, the director 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

CVBF has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their target price on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Piper Sandler boosted their price objective on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, CVB Financial presently has a consensus rating of "Moderate Buy" and an average price target of $23.25.

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.