Smartleaf Asset Management LLC Acquires 2,597 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Smartleaf Asset Management LLC raised its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 144.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,389 shares of the financial services provider’s stock after buying an additional 2,597 shares during the period. Smartleaf Asset Management LLC’s holdings in CVB Financial were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of CVB Financial in the third quarter valued at $8,653,000. JPMorgan Chase & Co. lifted its position in shares of CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock valued at $6,477,000 after purchasing an additional 74,004 shares in the last quarter. Jane Street Group LLC lifted its position in shares of CVB Financial by 11.8% during the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock valued at $2,437,000 after purchasing an additional 14,384 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of CVB Financial by 22.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock valued at $1,131,000 after purchasing an additional 9,600 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of CVB Financial by 9.8% during the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock valued at $4,716,000 after purchasing an additional 23,682 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Stock Performance

NASDAQ CVBF opened at $19.44 on Friday. CVB Financial Corp. has a 52-week low of $15.71 and a 52-week high of $24.58. The company has a 50-day simple moving average of $20.44 and a 200 day simple moving average of $20.24. The company has a market capitalization of $2.71 billion, a PE ratio of 13.50 and a beta of 0.46.

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

CVB Financial Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.12%. CVB Financial’s dividend payout ratio (DPR) is presently 55.56%.

Analyst Ratings Changes

A number of research firms recently weighed in on CVBF. Stephens dropped their price target on shares of 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 raised their price target 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.