Dimensional Fund Advisors LP Has $124.75 Million Stock Position in 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 lifted its holdings in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,758,075 shares of the financial services provider's stock after buying an additional 400,670 shares during the period. Dimensional Fund Advisors LP owned about 4.86% of CVB Financial worth $124,752,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVBF. Illinois Municipal Retirement Fund raised its holdings in shares of CVB Financial by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 71,615 shares of the financial services provider's stock worth $1,322,000 after acquiring an additional 1,671 shares in the last quarter. Principal Financial Group Inc. raised its holdings in CVB Financial by 2.7% during the first quarter. Principal Financial Group Inc. now owns 654,007 shares of the financial services provider's stock valued at $12,073,000 after buying an additional 17,205 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of CVB Financial by 1,845.6% in the first quarter. GAMMA Investing LLC now owns 93,777 shares of the financial services provider's stock worth $1,731,000 after purchasing an additional 88,957 shares during the period. Natixis Advisors LLC increased its position in CVB Financial by 58.1% in the 1st quarter. Natixis Advisors LLC now owns 47,547 shares of the financial services provider's stock worth $878,000 after buying an additional 17,476 shares during the period. Finally, KBC Group NV increased its position in CVB Financial by 20.4% in the 1st quarter. KBC Group NV now owns 7,231 shares of the financial services provider's stock worth $133,000 after buying an additional 1,226 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. bought 53,567 shares of the stock in a transaction on Monday, August 4th. The stock was purchased at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 6.10% of the company's stock.

CVB Financial Stock Up 5.3%

Shares of CVBF traded up $1.02 during trading hours on Friday, reaching $20.27. The stock had a trading volume of 979,195 shares, compared to its average volume of 661,366. CVB Financial Corporation has a 52 week low of $16.01 and a 52 week high of $24.58. The firm has a 50-day moving average of $19.71 and a 200 day moving average of $19.17. The company has a market cap of $2.79 billion, a P/E ratio of 13.98 and a beta of 0.69.

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

CVB Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CVBF shares. Keefe, Bruyette & Woods lowered their price target on CVB Financial from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Piper Sandler lifted their target price on shares of CVB Financial from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently 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.