CVB Financial Corp. (NASDAQ:CVBF) Position Increased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,091 shares of the financial services provider's stock after purchasing an additional 17,227 shares during the period. Wells Fargo & Company MN owned about 0.09% of CVB Financial worth $2,571,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its holdings in CVB Financial by 80.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock valued at $35,000 after buying an additional 720 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of CVB Financial during the 4th quarter worth $53,000. Smartleaf Asset Management LLC lifted its stake 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 valued at $95,000 after purchasing an additional 2,597 shares during the period. KBC Group NV boosted its stake in shares of CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock valued at $129,000 after acquiring an additional 1,556 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider's stock worth $131,000 after acquiring an additional 918 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Price Performance

CVBF traded down $0.24 during trading on Wednesday, hitting $18.54. The company had a trading volume of 679,433 shares, compared to its average volume of 809,566. The company has a market cap of $2.58 billion, a PE ratio of 12.88 and a beta of 0.62. CVB Financial Corp. has a 1-year low of $15.75 and a 1-year high of $24.58. The business has a 50-day moving average of $18.42 and a 200-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 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. The business had revenue of $126.67 million during the quarter, compared to the consensus estimate of $124.45 million. During the same period last year, the firm earned $0.35 earnings per share. Research analysts forecast 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. Shareholders of record on Wednesday, April 2nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio is presently 55.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVBF. Stephens decreased their price target 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. Piper Sandler decreased 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $23.50.

About CVB Financial

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.