Clearbridge Investments LLC bought a new position in shares of CVB Financial Corp. (NASDAQ:CVBF) in the first quarter, Holdings Channel reports. The firm bought 348,189 shares of the financial services provider’s stock, valued at approximately $6,981,000.

A number of other hedge funds also recently made changes to their positions in CVBF. First Trust Advisors LP boosted its holdings in shares of CVB Financial by 4.3% during the 1st quarter. First Trust Advisors LP now owns 174,758 shares of the financial services provider’s stock worth $3,679,000 after buying an additional 7,255 shares during the period. Victory Capital Management Inc. lifted its position in CVB Financial by 21.8% during the 4th quarter. Victory Capital Management Inc. now owns 35,397 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 6,340 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in CVB Financial by 28.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,057 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 1,342 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of CVB Financial by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 953,416 shares of the financial services provider’s stock valued at $20,575,000 after purchasing an additional 20,784 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of CVB Financial during the 4th quarter worth about $79,000. Institutional investors own 72.36% of the company’s stock.

CVB Financial stock opened at $17.76 on Monday. The business has a 50 day moving average price of $18.74 and a two-hundred day moving average price of $19.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.01. CVB Financial Corp. has a 12 month low of $14.91 and a 12 month high of $22.23. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 12.78 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). CVB Financial had a net margin of 38.52% and a return on equity of 9.91%. The firm had revenue of $101.95 million for the quarter, compared to the consensus estimate of $114.73 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was down 18.0% on a year-over-year basis. On average, analysts expect that CVB Financial Corp. will post 1.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Wednesday, July 8th. CVB Financial’s dividend payout ratio is 48.65%.

CVBF has been the topic of a number of research analyst reports. BidaskClub lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Zacks Investment Research upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Hovde Group upgraded shares of CVB Financial from an “underperform” rating to a “market perform” rating and upped their target price for the company from $20.00 to $20.50 in a research note on Friday, May 29th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. CVB Financial currently has an average rating of “Hold” and an average target price of $22.17.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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