Nomura Asset Management Co. Ltd. Buys 720 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Nomura Asset Management Co. Ltd. grew its position in CVB Financial Corp. (NASDAQ:CVBF) by 80.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,620 shares of the financial services provider’s stock after purchasing an additional 720 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in CVB Financial were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CVBF. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $110,401,000 after purchasing an additional 204,164 shares during the period. Geode Capital Management LLC boosted its position in shares of CVB Financial by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after acquiring an additional 15,628 shares during the period. Victory Capital Management Inc. grew its stake in shares of CVB Financial by 210.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock worth $31,858,000 after acquiring an additional 1,009,146 shares during the last quarter. Norges Bank acquired a new position in CVB Financial during the 4th quarter valued at $27,724,000. Finally, Principal Financial Group Inc. boosted its holdings in CVB Financial by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider’s stock valued at $13,634,000 after purchasing an additional 17,734 shares during the period. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stephens dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.20.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $16.85 on Friday. The company’s fifty day moving average price is $19.56 and its two-hundred day moving average price is $20.34. The firm has a market capitalization of $2.35 billion, a PE ratio of 11.70 and a beta of 0.46. 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 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Analysts predict that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Wednesday, April 2nd. CVB Financial’s payout ratio is 55.56%.

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.