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

MQS Management LLC purchased a new stake in CVB Financial Corporation (NASDAQ:CVBF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,652 shares of the financial services provider's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund grew its holdings in CVB Financial by 2.4% in the 1st 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 period. Principal Financial Group Inc. increased its position in CVB Financial by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 654,007 shares of the financial services provider's stock worth $12,073,000 after purchasing an additional 17,205 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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 valued at $1,731,000 after buying an additional 88,957 shares during the period. KBC Group NV lifted its position in 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 buying an additional 1,226 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in CVB Financial by 12.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 106,996 shares of the financial services provider's stock worth $1,975,000 after buying an additional 11,962 shares during the period. Hedge funds and other institutional investors own 74.18% of the company's stock.

Wall Street Analyst Weigh In

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

CVB Financial Price Performance

NASDAQ CVBF traded down $0.00 on Friday, reaching $21.09. The company had a trading volume of 451,097 shares, compared to its average volume of 820,716. The firm has a market capitalization of $2.91 billion, a PE ratio of 14.55 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 firm has a 50-day moving average of $19.53 and a 200-day moving average of $19.41.

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 analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $126.67 million during the quarter, compared to analysts' expectations 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 in the prior year, the business earned $0.35 EPS. As a group, sell-side analysts expect that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, July 10th. CVB Financial's payout ratio is 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.