O Shaughnessy Asset Management LLC bought a new stake in CVB Financial Corp. (NASDAQ:CVBF – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,049 shares of the financial services provider’s stock, valued at approximately $215,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of CVBF. Wellington Management Group LLP purchased a new position in CVB Financial during the 3rd quarter worth $8,653,000. JPMorgan Chase & Co. boosted its stake in shares of CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock worth $6,477,000 after buying an additional 74,004 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of CVB Financial by 144.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock worth $95,000 after buying an additional 2,597 shares during the last quarter. Jane Street Group LLC increased its position in CVB Financial by 11.8% in 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, Nisa Investment Advisors LLC increased its position in CVB Financial by 22.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock valued at $1,131,000 after acquiring an additional 9,600 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.
Analysts Set New Price Targets
Separately, Stephens lowered their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.20.
View Our Latest Stock Analysis on CVB Financial
CVB Financial Stock Down 0.7 %
Shares of NASDAQ:CVBF opened at $16.41 on Monday. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58. The company has a 50-day moving average price of $19.01 and a 200 day moving average price of $20.30. The company has a market cap of $2.29 billion, a P/E ratio of 11.40 and a beta of 0.62.
CVB Financial (NASDAQ:CVBF – Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating 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 expect that CVB Financial Corp. will post 1.41 EPS for the current year.
CVB Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be issued a $0.20 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.88%. CVB Financial’s dividend payout ratio is presently 55.56%.
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.
See Also
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