KWB Wealth Acquires New Holdings in CVB Financial Corp. (NASDAQ:CVBF)

KWB Wealth bought a new position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,757 shares of the financial services provider's stock, valued at approximately $254,000.

Other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its stake in shares of CVB Financial by 80.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after acquiring an additional 720 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in shares of CVB Financial in the fourth quarter worth about $53,000. Sterling Capital Management LLC raised its stake in shares of CVB Financial by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock worth $89,000 after acquiring an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after acquiring an additional 2,597 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of CVB Financial by 35.0% in the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after acquiring an additional 1,556 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Trading Up 2.2%

Shares of CVBF traded up $0.41 on Friday, reaching $19.00. 525,196 shares of the company's stock were exchanged, compared to its average volume of 820,789. The stock has a market capitalization of $2.62 billion, a P/E ratio of 13.19 and a beta of 0.66. The business has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $19.98. CVB Financial Corp. has a 12 month low of $15.91 and a 12 month high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $126.67 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.35 earnings per share. Equities research analysts predict that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is 55.17%.

Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company 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.