Victory Capital Management Inc. Grows Stock Position in CVB Financial Corporation $CVBF

Key Points

• Victory Capital Management increased its stake in CVB Financial by 3.7% to 1,956,467 shares (about a 1.42% ownership) valued at roughly $37.0 million as of the latest SEC filing.
• Institutional interest is high—74.18% of shares are institutionally owned and several funds including Norges Bank, Arrowstreet and Bessemer added or initiated positions recently, signaling growing institutional accumulation.
• Analyst coverage is mixed but the consensus is a "Moderate Buy" with a $24.17 target; the stock trades at a P/E of 12.61, a market cap of $2.57B, and pays a quarterly dividend of $0.20 (a 4.2% yield).

Victory Capital Management Inc. raised its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,956,467 shares of the financial services provider's stock after acquiring an additional 69,774 shares during the quarter. Victory Capital Management Inc. owned approximately 1.42% of CVB Financial worth $36,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of CVB Financial in the second quarter worth approximately $28,320,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of CVB Financial during the 2nd quarter valued at $5,636,000. Bessemer Group Inc. lifted its stake in shares of CVB Financial by 29.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider's stock valued at $20,720,000 after buying an additional 249,490 shares in the last quarter. Jane Street Group LLC bought a new position in CVB Financial in the 1st quarter worth $4,461,000. Finally, Edgestream Partners L.P. bought a new position in CVB Financial in the 2nd quarter worth $3,598,000. Institutional investors own 74.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson raised their target price on shares of CVB Financial from $21.00 to $22.50 and gave the company a "neutral" rating in a research note on Friday, December 19th. Wall Street Zen downgraded shares of CVB Financial from a "hold" rating to a "sell" rating in a report on Sunday, December 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of CVB Financial in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.17.

CVB Financial Price Performance

CVB Financial stock opened at $18.91 on Monday. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $21.48. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average is $19.84 and its 200 day moving average is $19.55. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 12.61 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.40 EPS for the quarter, hitting analysts' consensus estimates of $0.40. CVB Financial had a net margin of 32.28% and a return on equity of 9.25%. The business had revenue of $133.85 million during the quarter, compared to analysts' expectations of $135.45 million. During the same period last year, the company posted $0.36 EPS. Sell-side analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Monday, December 29th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, December 29th. CVB Financial's payout ratio is presently 53.33%.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company's core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.

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