Jump Financial LLC acquired a new stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 17,860 shares of the financial services provider's stock, valued at approximately $382,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVBF. Nomura Asset Management Co. Ltd. boosted its position in shares of CVB Financial by 80.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after buying an additional 720 shares during the period. Hopwood Financial Services Inc. acquired a new position in CVB Financial during the 4th quarter worth approximately $53,000. Sterling Capital Management LLC raised its holdings in shares of 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 valued at $89,000 after purchasing an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after purchasing an additional 2,597 shares in the last quarter. Finally, KBC Group NV boosted its holdings in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after purchasing an additional 1,556 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have weighed in on CVBF shares. Piper Sandler lowered their price target on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Monday. Stephens lowered their target price on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $23.50.
Read Our Latest Report on CVBF
CVB Financial Stock Performance
Shares of CVB Financial stock traded up $0.21 on Thursday, reaching $18.75. 120,294 shares of the stock were exchanged, compared to its average volume of 806,897. The firm's 50 day moving average is $18.42 and its 200-day moving average is $20.27. The firm has a market cap of $2.61 billion, a PE ratio of 13.04 and a beta of 0.62. CVB Financial Corp. has a one year low of $15.75 and a one year high of $24.58.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. The company had revenue of $126.67 million for the quarter, compared to analyst estimates of $124.45 million. During the same quarter last year, the company posted $0.35 EPS. On average, equities research analysts expect that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.
CVB Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd were issued a $0.20 dividend. The ex-dividend date was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.27%. CVB Financial's dividend payout ratio (DPR) is currently 55.17%.
About CVB Financial
(
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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