Victory Capital Management Inc. Boosts Stake in CVB Financial Corporation (NASDAQ:CVBF)

Victory Capital Management Inc. lifted its position in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 21.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,806,879 shares of the financial services provider's stock after purchasing an additional 318,882 shares during the period. Victory Capital Management Inc. owned 1.30% of CVB Financial worth $33,355,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CVBF. Nomura Asset Management Co. Ltd. raised its stake in shares of CVB Financial by 80.0% during the 4th 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 in the last quarter. Blue Trust Inc. increased its position in CVB Financial by 58.8% during 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 in the last quarter. Sterling Capital Management LLC boosted its holdings in 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 in the last quarter. KBC Group NV increased its holdings in shares of 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 acquiring an additional 1,226 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of CVB Financial by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 10,267 shares of the financial services provider's stock valued at $190,000 after purchasing an additional 878 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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 report on Monday, April 28th.

CVB Financial Stock Performance

NASDAQ CVBF traded down $1.17 during mid-day trading on Thursday, reaching $19.76. 1,415,132 shares of the stock were exchanged, compared to its average volume of 912,076. The business's 50 day moving average is $19.62 and its 200-day moving average is $19.39. The company has a market capitalization of $2.72 billion, a P/E ratio of 13.63 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.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The company had revenue of $126.35 million during the quarter, compared to analysts' expectations of $127.95 million. CVB Financial had a return on equity of 9.24% and a net margin of 30.99%. During the same quarter in the prior year, the firm posted $0.36 EPS. Equities analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Thursday, July 10th. CVB Financial's payout ratio is 55.17%.

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.