First Trust Advisors LP Grows Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

First Trust Advisors LP boosted its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 360,849 shares of the financial services provider's stock after purchasing an additional 19,456 shares during the quarter. First Trust Advisors LP owned about 0.26% of CVB Financial worth $7,726,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of CVB Financial in the 4th quarter worth about $31,064,000. Norges Bank purchased a new position in CVB Financial in the fourth quarter worth about $27,724,000. Victory Capital Management Inc. increased its stake in CVB Financial by 210.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock worth $31,858,000 after acquiring an additional 1,009,146 shares during the last quarter. Wellington Management Group LLP raised its position in CVB Financial by 99.6% during the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock valued at $20,755,000 after purchasing an additional 483,844 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of CVB Financial in the 4th quarter valued at approximately $9,483,000. Institutional investors own 74.18% of the company's stock.

CVB Financial Trading Up 0.2 %

Shares of CVBF stock traded up $0.04 on Monday, reaching $19.12. 83,103 shares of the company's stock were exchanged, compared to its average volume of 806,868. The company's fifty day simple moving average is $18.39 and its 200 day simple moving average is $20.28. The stock has a market capitalization of $2.66 billion, a PE ratio of 13.28 and a beta of 0.62. CVB Financial Corp. has a 52 week low of $15.75 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $126.67 million during the quarter, compared to analyst estimates of $124.45 million. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, sell-side analysts predict that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were paid a $0.20 dividend. The ex-dividend date was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.18%. CVB Financial's dividend payout ratio is currently 55.17%.

Wall Street Analysts Forecast Growth

CVBF has been the topic of several recent research reports. Piper Sandler decreased their price target on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Stephens cut their price objective on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $23.50.

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.