CVB Financial Corporation (NASDAQ:CVBF) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 654,007 shares of the financial services provider's stock after acquiring an additional 17,205 shares during the quarter. Principal Financial Group Inc. owned 0.47% of CVB Financial worth $12,073,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund boosted its position 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. GAMMA Investing LLC boosted its position in CVB Financial by 1,845.6% in the 1st 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 boosted 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 valued at $133,000 after buying an additional 1,226 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in CVB Financial by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 106,996 shares of the financial services provider's stock valued at $1,975,000 after buying an additional 11,962 shares during the period. Finally, Blue Trust Inc. boosted its position in CVB Financial by 58.8% in the 1st 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 period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CVB Financial Price Performance

Shares of CVB Financial stock traded up $0.37 during trading on Thursday, hitting $21.09. 999,288 shares of the stock were exchanged, compared to its average volume of 822,043. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 14.54 and a beta of 0.67. The firm's 50-day moving average price is $19.53 and its 200 day moving average price is $19.41. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $24.58.

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

CVB Financial Announces Dividend

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

CVB Financial 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.