First Trust Advisors LP Acquires 19,456 Shares of CVB Financial Corp. (NASDAQ:CVBF)

First Trust Advisors LP grew its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 5.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 360,849 shares of the financial services provider’s stock after acquiring an additional 19,456 shares during the period. First Trust Advisors LP’s holdings in CVB Financial were worth $7,726,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its position in shares of 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 buying an additional 720 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in CVB Financial during the 4th quarter worth approximately $53,000. Sterling Capital Management LLC boosted its stake in shares of CVB Financial by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC increased its position 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 period. Finally, KBC Group NV raised its stake in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after buying an additional 1,556 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stephens decreased their price target 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. Piper Sandler lowered their target price on CVB Financial from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Monday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, CVB Financial presently has an average rating of “Hold” and a consensus price target of $23.50.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $18.78 on Wednesday. The business has a 50-day simple moving average of $18.44 and a 200 day simple moving average of $20.29. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 13.04 and a beta of 0.62. CVB Financial Corp. has a one year low of $15.75 and a one year high of $24.58.

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

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Wednesday, April 2nd. CVB Financial’s dividend payout ratio is currently 55.17%.

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.