JPMorgan Chase & Co. lifted its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 25.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,494 shares of the financial services provider's stock after buying an additional 74,004 shares during the period. JPMorgan Chase & Co. owned about 0.26% of CVB Financial worth $6,477,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of CVBF. Dimensional Fund Advisors LP lifted its holdings in CVB Financial by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider's stock valued at $97,399,000 after acquiring an additional 816,176 shares during the period. Renaissance Technologies LLC increased its holdings in shares of CVB Financial by 143.4% in the 2nd quarter. Renaissance Technologies LLC now owns 111,694 shares of the financial services provider's stock valued at $1,926,000 after purchasing an additional 65,800 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of CVB Financial by 5.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider's stock valued at $250,000 after purchasing an additional 748 shares during the period. Intech Investment Management LLC purchased a new stake in CVB Financial during the second quarter worth about $236,000. Finally, Sei Investments Co. boosted its holdings in CVB Financial by 2.9% during the second quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider's stock worth $10,843,000 after buying an additional 17,483 shares in the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.
CVB Financial Stock Down 1.9 %
Shares of CVB Financial stock traded down $0.40 during trading on Thursday, hitting $20.37. 844,959 shares of the company were exchanged, compared to its average volume of 823,396. The firm has a 50 day moving average price of $22.25 and a 200 day moving average price of $19.60. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 14.24 and a beta of 0.50. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million for the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The business's revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. Analysts predict that CVB Financial Corp. will post 1.43 earnings per share for the current year.
CVB Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.93%. CVB Financial's dividend payout ratio (DPR) is presently 55.94%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on CVBF. Wedbush reiterated a "neutral" rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Piper Sandler reduced their price objective on CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their target price on CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.80.
Get Our Latest Stock Report on CVBF
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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