Norges Bank Purchases Shares of 1,294,915 CVB Financial Corp. (NASDAQ:CVBF)

Norges Bank bought a new position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,294,915 shares of the financial services provider's stock, valued at approximately $27,724,000. Norges Bank owned 0.93% of CVB Financial at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in shares of CVB Financial by 67.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 66,195 shares of the financial services provider's stock valued at $1,180,000 after purchasing an additional 26,610 shares in the last quarter. Captrust Financial Advisors grew its position in CVB Financial by 17.1% during the third quarter. Captrust Financial Advisors now owns 71,848 shares of the financial services provider's stock worth $1,280,000 after buying an additional 10,518 shares during the period. Wellington Management Group LLP purchased a new position in CVB Financial in the third quarter valued at about $8,653,000. Jane Street Group LLC lifted its position in shares of CVB Financial by 11.8% during the 3rd quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider's stock valued at $2,437,000 after acquiring an additional 14,384 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of CVB Financial during the 3rd quarter worth approximately $597,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Stock Down 0.7 %

Shares of CVB Financial stock traded down $0.12 during trading on Friday, hitting $16.41. 824,252 shares of the company were exchanged, compared to its average volume of 804,976. CVB Financial Corp. has a fifty-two week low of $15.69 and a fifty-two week high of $24.58. The firm has a 50 day moving average price of $19.01 and a 200 day moving average price of $20.28. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.40 and a beta of 0.62.

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%. Analysts predict that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.88%. CVB Financial's dividend payout ratio is currently 55.56%.

Analyst Upgrades and Downgrades

Separately, Stephens reduced their price objective on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $22.20.

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.