Bessemer Group Inc. Boosts Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

Bessemer Group Inc. raised its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 776,891 shares of the financial services provider's stock after buying an additional 31,570 shares during the period. Bessemer Group Inc. owned about 0.56% of CVB Financial worth $16,632,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can lifted its position in CVB Financial by 10.5% in the fourth quarter. Bank of Montreal Can now owns 20,445 shares of the financial services provider's stock worth $438,000 after buying an additional 1,942 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of CVB Financial by 40.1% during the fourth quarter. Cerity Partners LLC now owns 185,885 shares of the financial services provider's stock valued at $3,736,000 after acquiring an additional 53,229 shares during the last quarter. Wells Fargo & Company MN lifted its position in CVB Financial by 16.7% during the fourth quarter. Wells Fargo & Company MN now owns 120,091 shares of the financial services provider's stock worth $2,571,000 after buying an additional 17,227 shares in the last quarter. World Investment Advisors boosted its holdings in CVB Financial by 17.8% in the 4th quarter. World Investment Advisors now owns 26,929 shares of the financial services provider's stock valued at $580,000 after purchasing an additional 4,075 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of CVB Financial in the 4th quarter valued at $31,064,000. Institutional investors own 74.18% of the company's stock.

Analysts Set New Price Targets

Separately, Stephens dropped their price target on shares of 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.20.

CVB Financial Trading Up 1.7 %

CVBF stock traded up $0.30 during trading on Wednesday, hitting $17.56. The company had a trading volume of 366,374 shares, compared to its average volume of 805,602. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The company has a market cap of $2.44 billion, a P/E ratio of 12.19 and a beta of 0.62. The company has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $20.27.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. On average, analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be paid a $0.20 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.56%. CVB Financial's dividend payout ratio is presently 55.56%.

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.