Northern Trust Corp Increases Stake in CVB Financial Corp. (NASDAQ:CVBF)

Northern Trust Corp boosted its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,681,961 shares of the financial services provider's stock after buying an additional 21,510 shares during the period. Northern Trust Corp owned 1.20% of CVB Financial worth $36,011,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CVBF. Nomura Asset Management Co. Ltd. boosted its stake in 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 acquiring an additional 720 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of CVB Financial in the 4th quarter worth approximately $53,000. Sterling Capital Management LLC increased its position in CVB Financial by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after buying an additional 3,719 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in CVB Financial by 144.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock valued at $95,000 after buying an additional 2,597 shares during the last quarter. Finally, KBC Group NV boosted its holdings in CVB Financial by 35.0% in the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after acquiring an additional 1,556 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler cut their price target on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Stephens reduced their price target on shares of 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $23.50.

CVB Financial Trading Down 0.3 %

Shares of NASDAQ:CVBF opened at $19.21 on Friday. The company has a market cap of $2.67 billion, a PE ratio of 13.34 and a beta of 0.65. CVB Financial Corp. has a 12-month low of $15.75 and a 12-month high of $24.58. The stock has a 50 day moving average of $18.30 and a 200 day moving average of $20.26.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its earnings results 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 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 last year, the business posted $0.35 earnings per share. Equities research analysts predict that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. CVB Financial's dividend payout ratio is currently 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.

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