New Age Alpha Advisors LLC Buys New Shares in CVB Financial Corp. (NASDAQ:CVBF)

New Age Alpha Advisors LLC purchased a new position in shares of CVB Financial Corp. (NASDAQ:CVBF) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,483 shares of the financial services provider’s stock, valued at approximately $417,000.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVB Financial by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider’s stock worth $110,401,000 after purchasing an additional 204,164 shares during the period. Geode Capital Management LLC boosted its holdings in shares of CVB Financial by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after acquiring an additional 15,628 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of CVB Financial by 210.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock worth $31,858,000 after acquiring an additional 1,009,146 shares during the period. Norges Bank purchased a new position in shares of CVB Financial during the fourth quarter worth $27,724,000. Finally, Principal Financial Group Inc. lifted its position in CVB Financial by 2.9% during 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. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Trading Down 0.1 %

Shares of CVBF stock opened at $18.44 on Wednesday. The company has a market capitalization of $2.57 billion, a P/E ratio of 12.81 and a beta of 0.46. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The business’s 50 day moving average is $19.76 and its two-hundred day moving average is $20.38.

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

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, April 2nd. CVB Financial’s dividend payout ratio is presently 55.56%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Stephens cut their price target 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 lifted their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, CVB Financial presently has a consensus rating of “Hold” and a consensus target price 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.