Mirae Asset Global Investments Co. Ltd. Has $1.98 Million Stock Holdings in CVB Financial Corporation (NASDAQ:CVBF)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,996 shares of the financial services provider's stock after purchasing an additional 11,962 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.08% of CVB Financial worth $1,975,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CVBF. Illinois Municipal Retirement Fund lifted its position in shares of CVB Financial by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 71,615 shares of the financial services provider's stock valued at $1,322,000 after buying an additional 1,671 shares during the last quarter. Diversified Trust Co lifted its position in shares of CVB Financial by 2.7% in the first quarter. Diversified Trust Co now owns 50,852 shares of the financial services provider's stock valued at $939,000 after buying an additional 1,332 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of CVB Financial by 4.2% in the first quarter. Bessemer Group Inc. now owns 809,365 shares of the financial services provider's stock valued at $14,940,000 after buying an additional 32,474 shares during the last quarter. TrueMark Investments LLC acquired a new stake in shares of CVB Financial in the first quarter valued at approximately $201,000. Finally, Blue Trust Inc. lifted its position in shares of CVB Financial by 58.8% in the first quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider's stock valued at $83,000 after buying an additional 1,655 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Trading Up 1.1%

Shares of NASDAQ CVBF opened at $20.96 on Friday. The firm has a market cap of $2.89 billion, a P/E ratio of 14.46 and a beta of 0.67. CVB Financial Corporation has a 1-year low of $16.01 and a 1-year high of $24.58. The business's 50 day moving average is $19.12 and its 200-day moving average is $19.48.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its 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 company had revenue of $126.67 million for the quarter, compared to analyst estimates of $124.45 million. CVB Financial had a return on equity of 9.32% and a net margin of 30.24%. During the same quarter last year, the company earned $0.35 earnings per share. Analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a yield of 3.82%. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price 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.

About CVB Financial

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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