QRG Capital Management Inc. Makes New Investment in CVB Financial Corp. (NASDAQ:CVBF)

QRG Capital Management Inc. acquired a new position in shares of CVB Financial Corp. (NASDAQ:CVBF) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,389 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other large investors also recently added to or reduced their stakes in CVBF. Wellington Management Group LLP purchased a new position in shares of CVB Financial during the third quarter valued at approximately $8,653,000. Jacobs Asset Management LLC purchased a new position in shares of CVB Financial during the third quarter valued at approximately $4,455,000. Charles Schwab Investment Management Inc. boosted its position in shares of CVB Financial by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after buying an additional 181,769 shares during the period. Barclays PLC boosted its position in shares of CVB Financial by 79.5% during the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock valued at $5,186,000 after buying an additional 128,869 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of CVB Financial by 87.6% during the third quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock valued at $3,798,000 after buying an additional 99,554 shares during the period. 74.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CVBF shares. Stephens lowered their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.20.

CVB Financial Stock Up 0.4 %

CVB Financial stock opened at $19.44 on Friday. The business has a fifty day moving average of $20.44 and a two-hundred day moving average of $20.22. The firm has a market cap of $2.71 billion, a P/E ratio of 13.50 and a beta of 0.46. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Equities analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.12%. CVB Financial’s dividend payout ratio is currently 55.56%.

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.