Victory Capital Management Inc. lifted its stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 210.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,487,997 shares of the financial services provider's stock after acquiring an additional 1,009,146 shares during the period. Victory Capital Management Inc. owned 1.07% of CVB Financial worth $31,858,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of CVBF. Charles Schwab Investment Management Inc. raised its stake in 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 worth $110,401,000 after purchasing an additional 204,164 shares during the period. Geode Capital Management LLC increased its holdings 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 buying an additional 15,628 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of CVB Financial by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider's stock valued at $13,634,000 after buying an additional 17,734 shares during the period. Wellington Management Group LLP acquired a new position in CVB Financial in the third quarter valued at approximately $8,653,000. Finally, JPMorgan Chase & Co. grew its position in CVB Financial by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider's stock worth $6,477,000 after acquiring an additional 74,004 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.
CVB Financial Price Performance
Shares of NASDAQ CVBF traded down $0.18 during midday trading on Thursday, hitting $18.42. The company's stock had a trading volume of 787,012 shares, compared to its average volume of 768,248. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58. The business's fifty day simple moving average is $20.27 and its two-hundred day simple moving average is $20.27. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 12.79 and a beta of 0.46.
CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating 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%. Analysts anticipate that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.
CVB Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. CVB Financial's payout ratio is currently 55.56%.
Wall Street Analyst Weigh In
A number of research analysts have commented on CVBF shares. Keefe, Bruyette & Woods upped their target price on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Stephens decreased their price objective on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $22.20.
Get Our Latest Research Report on CVBF
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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