Fisher Asset Management LLC Invests $884,000 in CVB Financial Corp. (NASDAQ:CVBF)

Fisher Asset Management LLC purchased a new position in CVB Financial Corp. (NASDAQ:CVBF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,273 shares of the financial services provider’s stock, valued at approximately $884,000.

Several other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC increased its holdings in shares of CVB Financial by 2.1% in the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 545 shares during the period. Blue Trust Inc. increased its holdings in shares of CVB Financial by 17.7% in the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 918 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in CVB Financial in the third quarter worth $27,000. KBC Group NV grew its position in CVB Financial by 35.0% in the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 1,556 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in CVB Financial by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 20,401 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 1,690 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 0.5 %

NASDAQ CVBF opened at $19.42 on Thursday. The company has a 50-day simple moving average of $20.54 and a two-hundred day simple moving average of $20.21. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 13.49 and a beta of 0.50.

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

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 4.12%. CVB Financial’s payout ratio is 55.56%.

Analysts Set New Price Targets

CVBF has been the subject of several research reports. Stephens cut their target price on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.20.

CVB Financial Company 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.