CVB Financial Corp. (NASDAQ:CVBF) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 25.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 363,494 shares of the financial services provider’s stock after acquiring an additional 74,004 shares during the quarter. JPMorgan Chase & Co.’s holdings in CVB Financial were worth $6,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Natixis Advisors LLC increased its stake in shares of CVB Financial by 2.1% during the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 545 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in CVB Financial by 5.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 748 shares during the period. GAMMA Investing LLC raised its stake in shares of CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after buying an additional 780 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of CVB Financial by 4.7% during the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after buying an additional 859 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of CVB Financial by 3.5% in the 3rd quarter. Diversified Trust Co now owns 44,271 shares of the financial services provider’s stock valued at $789,000 after buying an additional 1,491 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

CVB Financial stock opened at $20.77 on Thursday. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.52 and a beta of 0.50. The stock’s fifty day moving average is $22.29 and its two-hundred day moving average is $19.59.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $126.45 million for the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. As a group, sell-side analysts forecast that CVB Financial Corp. will post 1.43 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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. CVB Financial’s dividend payout ratio (DPR) is 55.94%.

Analysts Set New Price Targets

CVBF has been the subject of several research analyst reports. Piper Sandler cut their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Keefe, Bruyette & Woods increased their price target on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.80.

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.