LSV Asset Management Purchases Shares of 122,900 CVB Financial Corporation $CVBF

LSV Asset Management acquired a new position in shares of CVB Financial Corporation (NASDAQ:CVBF) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 122,900 shares of the financial services provider’s stock, valued at approximately $2,324,000. LSV Asset Management owned 0.09% of CVB Financial at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Royal Bank of Canada grew its stake in CVB Financial by 28.7% during the 1st quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 8,432 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of CVB Financial by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after buying an additional 12,992 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CVB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock worth $1,456,000 after buying an additional 3,442 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of CVB Financial by 848.1% during the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock worth $300,000 after buying an additional 13,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CVB Financial by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock worth $8,458,000 after buying an additional 38,250 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Trading Up 0.5%

CVBF stock opened at $20.55 on Tuesday. The stock has a market cap of $2.79 billion, a P/E ratio of 13.70 and a beta of 0.68. CVB Financial Corporation has a twelve month low of $16.01 and a twelve month high of $21.48. The company’s 50 day moving average is $19.84 and its two-hundred day moving average is $19.49.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. CVB Financial had a net margin of 32.28% and a return on equity of 9.30%. The firm had revenue of $133.85 million for the quarter, compared to the consensus estimate of $135.45 million. During the same period last year, the firm posted $0.36 EPS. On average, equities research analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Stockholders of record on Monday, December 29th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. CVB Financial’s payout ratio is 53.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVBF. DA Davidson lifted their price target on shares of CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Wall Street Zen lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.17.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.