JPMorgan Chase & Co. Buys 249,009 Shares of CVB Financial Corp. (NASDAQ:CVBF)

JPMorgan Chase & Co. lifted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 68.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 612,503 shares of the financial services provider’s stock after purchasing an additional 249,009 shares during the period. JPMorgan Chase & Co. owned 0.44% of CVB Financial worth $13,114,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in CVB Financial during the 3rd quarter valued at about $8,653,000. Smartleaf Asset Management LLC lifted its holdings in CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock valued at $95,000 after buying an additional 2,597 shares during the period. Jane Street Group LLC boosted its stake in CVB Financial by 11.8% in 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 acquiring an additional 14,384 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in CVB Financial by 22.5% in 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 acquiring an additional 9,600 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in CVB Financial during the 4th quarter worth $699,000. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $16.41 on Monday. The company has a 50 day moving average price of $19.01 and a two-hundred day moving average price of $20.30. The company has a market capitalization of $2.29 billion, a PE ratio of 11.40 and a beta of 0.62. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Wednesday, April 2nd. CVB Financial’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

Separately, Stephens reduced their price target on 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.