Dimensional Fund Advisors LP boosted its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,208,139 shares of the financial services provider’s stock after acquiring an additional 8,238 shares during the period. Dimensional Fund Advisors LP owned 2.91% of CVB Financial worth $77,539,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Strs Ohio lifted its stake in CVB Financial by 12.5% during the second quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 500 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in CVB Financial by 54.5% during the second quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 2,291 shares in the last quarter. D.A. Davidson & CO. lifted its stake in CVB Financial by 29.3% during the second quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,600 shares in the last quarter. Victory Capital Management Inc. lifted its stake in CVB Financial by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,384 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in CVB Financial by 1.0% during the second quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 69.36% of the company’s stock.
A number of research firms have commented on CVBF. Zacks Investment Research cut CVB Financial from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. ValuEngine cut CVB Financial from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Piper Jaffray Companies restated a “hold” rating on shares of CVB Financial in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.20.
CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $81.78 million for the quarter, compared to analysts’ expectations of $81.78 million. CVB Financial had a return on equity of 10.89% and a net margin of 35.60%. During the same period last year, the firm earned $0.23 earnings per share. analysts anticipate that CVB Financial Corp. will post 1.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Friday, January 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, January 4th. CVB Financial’s payout ratio is currently 53.85%.
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About CVB Financial
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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