JPMorgan Chase & Co. lifted its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 68.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 612,503 shares of the financial services provider's stock after buying an additional 249,009 shares during the period. JPMorgan Chase & Co. owned approximately 0.44% of CVB Financial worth $13,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in CVBF. Charles Schwab Investment Management Inc. increased its position in shares of CVB Financial by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider's stock valued at $110,401,000 after acquiring an additional 204,164 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CVB Financial by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider's stock worth $56,401,000 after purchasing an additional 15,628 shares during the period. Victory Capital Management Inc. increased its holdings in CVB Financial by 210.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock valued at $31,858,000 after purchasing an additional 1,009,146 shares during the last quarter. Principal Financial Group Inc. raised its position in CVB Financial by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider's stock valued at $13,634,000 after purchasing an additional 17,734 shares during the period. Finally, Wellington Management Group LLP acquired a new position in CVB Financial during the third quarter worth $8,653,000. Hedge funds and other institutional investors own 74.18% of the company's stock.
CVB Financial Stock Performance
Shares of NASDAQ:CVBF traded up $0.23 during trading on Friday, hitting $17.70. The company's stock had a trading volume of 798,355 shares, compared to its average volume of 811,237. CVB Financial Corp. has a fifty-two week low of $15.75 and a fifty-two week high of $24.58. The business has a 50 day moving average price of $18.69 and a two-hundred day moving average price of $20.25. The company has a market capitalization of $2.46 billion, a PE ratio of 12.29 and a beta of 0.62.
CVB Financial (NASDAQ:CVBF - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, equities analysts expect 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 issued a $0.20 dividend. The ex-dividend date was Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.52%. CVB Financial's dividend payout ratio (DPR) is 55.56%.
Wall Street Analysts Forecast Growth
Separately, Stephens dropped their price objective on 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. Four investment 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 currently has a consensus rating of "Hold" and a consensus target price of $22.20.
Check Out Our Latest Research Report on CVB Financial
CVB Financial Profile
(
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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