New Age Alpha Advisors LLC Purchases New Position in CVB Financial Corp. (NASDAQ:CVBF)

New Age Alpha Advisors LLC purchased a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,483 shares of the financial services provider's stock, valued at approximately $417,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of CVB Financial by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider's stock worth $110,401,000 after buying an additional 204,164 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of CVB Financial by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider's stock worth $56,401,000 after acquiring an additional 15,628 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of CVB Financial by 210.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock valued at $31,858,000 after acquiring an additional 1,009,146 shares in the last quarter. Norges Bank bought a new position in CVB Financial in the 4th quarter worth about $27,724,000. Finally, Principal Financial Group Inc. boosted its stake in CVB Financial by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider's stock worth $13,634,000 after purchasing an additional 17,734 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Separately, 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 report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CVB Financial has an average rating of "Hold" and a consensus target price of $22.20.

CVB Financial Trading Down 1.2 %

CVBF traded down $0.21 on Friday, hitting $16.85. 1,602,561 shares of the company's stock traded hands, compared to its average volume of 797,501. CVB Financial Corp. has a one year low of $15.71 and a one year high of $24.58. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 11.70 and a beta of 0.62. The company's 50 day simple moving average is $19.56 and its 200-day simple moving average is $20.37.

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 net margin of 29.32% and a return on equity of 9.35%. As a group, equities analysts anticipate that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.75%. CVB Financial's payout ratio is 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.