Wells Fargo & Company MN Purchases 17,227 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Wells Fargo & Company MN raised its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,091 shares of the financial services provider's stock after buying an additional 17,227 shares during the quarter. Wells Fargo & Company MN owned about 0.09% of CVB Financial worth $2,571,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CVBF. Nomura Asset Management Co. Ltd. raised its stake in CVB Financial by 80.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 720 shares during the period. Hopwood Financial Services Inc. purchased a new position in shares of CVB Financial in the fourth quarter worth about $53,000. Smartleaf Asset Management LLC raised its position in shares of CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 2,597 shares during the period. KBC Group NV lifted its stake in shares of CVB Financial by 35.0% during the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock valued at $129,000 after buying an additional 1,556 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of CVB Financial by 17.7% during the 4th quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider's stock valued at $131,000 after buying an additional 918 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Trading Up 0.3 %

Shares of CVBF traded up $0.06 during mid-day trading on Monday, reaching $18.52. 743,776 shares of the stock traded hands, compared to its average volume of 810,804. CVB Financial Corp. has a 1 year low of $15.75 and a 1 year high of $24.58. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 12.86 and a beta of 0.62. The firm has a fifty day moving average price of $18.51 and a 200 day moving average price of $20.30.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. The business had revenue of $126.67 million for the quarter, compared to analyst estimates of $124.45 million. During the same period in the prior year, the company earned $0.35 EPS. On average, sell-side analysts anticipate that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio is currently 55.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVBF shares. Stephens lowered their target price 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. Piper Sandler decreased their price objective on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, CVB Financial presently has a consensus rating of "Hold" and a consensus target price of $23.50.

CVB Financial Company Profile

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.