Nisa Investment Advisors LLC Buys 9,600 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Nisa Investment Advisors LLC lifted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 22.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,358 shares of the financial services provider’s stock after acquiring an additional 9,600 shares during the period. Nisa Investment Advisors LLC’s holdings in CVB Financial were worth $1,131,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in CVB Financial by 143.4% in the second quarter. Renaissance Technologies LLC now owns 111,694 shares of the financial services provider’s stock worth $1,926,000 after purchasing an additional 65,800 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of CVB Financial by 5.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock worth $250,000 after buying an additional 748 shares during the last quarter. Bank of Montreal Can raised its stake in shares of CVB Financial by 237.9% during the 2nd quarter. Bank of Montreal Can now owns 70,072 shares of the financial services provider’s stock worth $1,208,000 after acquiring an additional 49,333 shares in the last quarter. Marshall Wace LLP purchased a new stake in CVB Financial during the second quarter valued at approximately $856,000. Finally, AQR Capital Management LLC boosted its stake in CVB Financial by 132.1% in the second quarter. AQR Capital Management LLC now owns 24,196 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 13,771 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

CVB Financial stock opened at $21.02 on Tuesday. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The company has a market cap of $2.94 billion, a PE ratio of 14.60 and a beta of 0.50. The business’s 50-day simple moving average is $21.99 and its two-hundred day simple moving average is $19.80.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share 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 9.41%. As a group, analysts predict that CVB Financial Corp. will post 1.4 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.81%. CVB Financial’s dividend payout ratio (DPR) is presently 55.56%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CVBF shares. Piper Sandler reduced their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Stephens dropped their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of 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, the company has an average rating of “Hold” and an average target price of $22.20.

CVB Financial Company 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.