MQS Management LLC Buys Shares of 14,652 CVB Financial Corporation (NASDAQ:CVBF)

MQS Management LLC bought a new position in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,652 shares of the financial services provider's stock, valued at approximately $270,000.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in CVB Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,405 shares of the financial services provider's stock valued at $136,116,000 after purchasing an additional 162,422 shares in the last quarter. Capital Research Global Investors bought a new stake in CVB Financial in the fourth quarter valued at $94,382,000. Parallel Advisors LLC increased its stake in CVB Financial by 29.7% in the first quarter. Parallel Advisors LLC now owns 3,822,248 shares of the financial services provider's stock valued at $70,559,000 after purchasing an additional 874,631 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in CVB Financial by 15.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider's stock valued at $49,979,000 after purchasing an additional 317,418 shares in the last quarter. Finally, Northern Trust Corp increased its stake in CVB Financial by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,681,961 shares of the financial services provider's stock valued at $36,011,000 after purchasing an additional 21,510 shares in the last quarter. Institutional investors own 74.18% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Monday, April 28th.

CVB Financial Price Performance

Shares of NASDAQ CVBF traded up $0.37 during mid-day trading on Thursday, reaching $21.09. 999,288 shares of the company's stock traded hands, compared to its average volume of 824,436. The stock has a market cap of $2.91 billion, a P/E ratio of 14.54 and a beta of 0.67. The business has a 50-day simple moving average of $19.50 and a 200 day simple moving average of $19.41. CVB Financial Corporation has a 1-year low of $16.01 and a 1-year high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. CVB Financial had a net margin of 30.24% and a return on equity of 9.32%. The business had revenue of $126.67 million for the quarter, compared to analysts' expectations of $124.45 million. During the same period in the previous year, the company earned $0.35 earnings per share. Equities research analysts anticipate that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, July 10th. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

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.