CVB Financial Corp. (NASDAQ:CVBF) Stake Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,401 shares of the financial services provider’s stock after buying an additional 1,690 shares during the period. Los Angeles Capital Management LLC’s holdings in CVB Financial were worth $437,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in CVB Financial by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after purchasing an additional 181,769 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $56,401,000 after purchasing an additional 15,628 shares during the period. Principal Financial Group Inc. increased its stake in shares of CVB Financial by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider’s stock valued at $13,634,000 after purchasing an additional 17,734 shares during the period. Wellington Management Group LLP bought a new stake in shares of CVB Financial during the third quarter valued at approximately $8,653,000. Finally, JPMorgan Chase & Co. boosted its position 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. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Price Performance

CVBF opened at $20.16 on Tuesday. The business has a 50 day moving average price of $20.64 and a two-hundred day moving average price of $20.20. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 14.00 and a beta of 0.50. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Equities analysts expect that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.97%. CVB Financial’s dividend payout ratio (DPR) is 55.56%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. 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 report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $22.20.

CVB Financial 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.