Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,784,666 shares of the financial services provider's stock after buying an additional 190,343 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.72% of CVB Financial worth $76,412,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of CVBF. Raymond James & Associates increased its holdings in CVB Financial by 2.5% during the 4th quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider's stock valued at $719,000 after acquiring an additional 854 shares in the last quarter. Covestor Ltd increased its stake in shares of CVB Financial by 11.2% during the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider's stock worth $145,000 after purchasing an additional 885 shares in the last quarter. Equitable Trust Co. raised its position in shares of CVB Financial by 6.5% during the 4th quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider's stock worth $561,000 after purchasing an additional 1,705 shares during the last quarter. Strs Ohio purchased a new stake in CVB Financial in the 4th quarter valued at approximately $36,000. Finally, Natixis Advisors L.P. grew its holdings in CVB Financial by 10.1% during the 3rd quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider's stock valued at $343,000 after buying an additional 1,905 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CVBF. Wedbush reissued a "neutral" rating and issued a $19.00 price target on shares of CVB Financial in a report on Thursday, April 25th. Stephens reaffirmed an "equal weight" rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on shares of CVB Financial from $20.00 to $19.00 and set a "market perform" rating on the stock in a research note on Friday, April 26th. Finally, Hovde Group cut shares of CVB Financial from an "outperform" rating to a "market perform" rating and set a $18.00 target price for the company. in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.00.
Get Our Latest Analysis on CVBF
CVB Financial Stock Up 1.9 %
Shares of CVBF stock traded up $0.32 during trading hours on Tuesday, hitting $17.41. 377,817 shares of the company were exchanged, compared to its average volume of 862,610. The firm has a fifty day moving average of $16.95 and a 200 day moving average of $17.81. CVB Financial Corp. has a 1 year low of $11.03 and a 1 year high of $21.77. The firm has a market cap of $2.43 billion, a PE ratio of 11.42 and a beta of 0.47.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts' consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. During the same quarter last year, the firm posted $0.42 earnings per share. CVB Financial's revenue was down 8.9% on a year-over-year basis. Analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.
CVB Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is presently 52.63%.
CVB Financial Company Profile
(
Free Report)
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.
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