First Trust Advisors LP raised its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360,849 shares of the financial services provider's stock after buying an additional 19,456 shares during the period. First Trust Advisors LP owned about 0.26% of CVB Financial worth $7,726,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider's stock valued at $110,401,000 after purchasing an additional 204,164 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of CVB Financial by 210.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock valued at $31,858,000 after buying an additional 1,009,146 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of CVB Financial in the 4th quarter worth about $31,064,000. Norges Bank bought a new position in shares of CVB Financial in the 4th quarter worth about $27,724,000. Finally, Wellington Management Group LLP lifted its position in CVB Financial by 99.6% during the 4th quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock valued at $20,755,000 after acquiring an additional 483,844 shares during the period. Institutional investors own 74.18% of the company's stock.
CVB Financial Stock Performance
Shares of NASDAQ:CVBF traded up $0.33 during trading on Friday, reaching $19.08. 671,669 shares of the stock traded hands, compared to its average volume of 809,704. CVB Financial Corp. has a 52-week low of $15.75 and a 52-week high of $24.58. The stock has a market cap of $2.65 billion, a P/E ratio of 13.25 and a beta of 0.62. The stock has a 50-day moving average of $18.39 and a two-hundred day moving average of $20.27.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted 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. 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 9.35% and a net margin of 29.32%. During the same quarter in the previous year, the business earned $0.35 earnings per share. Sell-side analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.
CVB Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's payout ratio is 55.17%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Stephens lowered their price objective on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $23.50.
View Our Latest Stock Report on CVBF
CVB Financial Company Profile
(
Free Report)
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.
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