Bank of America Corp DE Has $12.60 Million Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Bank of America Corp DE cut its stake in CVB Financial Corp. (NASDAQ:CVBF) by 14.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 588,394 shares of the financial services provider’s stock after selling 101,687 shares during the period. Bank of America Corp DE owned approximately 0.42% of CVB Financial worth $12,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of CVB Financial by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,357,405 shares of the financial services provider’s stock worth $136,116,000 after buying an additional 162,422 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider’s stock worth $110,401,000 after buying an additional 204,164 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of CVB Financial during the 4th quarter worth about $94,382,000. Fuller & Thaler Asset Management Inc. boosted its stake in shares of CVB Financial by 15.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider’s stock worth $49,979,000 after buying an additional 317,418 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of CVB Financial by 1.3% during the 4th quarter. Northern Trust Corp now owns 1,681,961 shares of the financial services provider’s stock worth $36,011,000 after buying an additional 21,510 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVBF shares. Stephens dropped their target price on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Piper Sandler dropped their target price on shares of CVB Financial from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, April 28th.

CVB Financial Stock Performance

Shares of CVBF stock opened at $18.97 on Friday. The firm’s 50-day moving average is $18.42 and its 200-day moving average is $20.28. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 13.17 and a beta of 0.65. CVB Financial Corp. has a 52-week low of $15.75 and a 52-week high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $124.45 million. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. During the same period in the prior year, the firm earned $0.35 EPS. Sell-side analysts predict that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.22%. CVB Financial’s dividend payout ratio is currently 55.17%.

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.