Proficio Capital Partners LLC Makes New $699,000 Investment in CVB Financial Corp. (NASDAQ:CVBF)

Proficio Capital Partners LLC bought a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 32,659 shares of the financial services provider's stock, valued at approximately $699,000.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in shares of CVB Financial by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider's stock worth $88,251,000 after acquiring an additional 181,769 shares in the last quarter. Geode Capital Management LLC lifted its stake in CVB Financial by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider's stock worth $56,401,000 after purchasing an additional 15,628 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in CVB Financial by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider's stock worth $13,634,000 after purchasing an additional 17,734 shares during the period. Wellington Management Group LLP bought a new stake in CVB Financial during the third quarter valued at $8,653,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider's stock worth $6,477,000 after purchasing an additional 74,004 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CVBF shares. Keefe, Bruyette & Woods lifted their price target on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Stephens lowered their target price on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.20.

CVB Financial Stock Down 0.9 %

CVBF stock traded down $0.18 during trading on Thursday, reaching $18.42. 489,598 shares of the company's stock were exchanged, compared to its average volume of 764,783. The firm has a market cap of $2.57 billion, a PE ratio of 12.79 and a beta of 0.46. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58. The company's fifty day moving average price is $20.27 and its 200-day moving average price is $20.27.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. As a group, sell-side analysts expect 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 was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.34%. CVB Financial's dividend payout ratio (DPR) 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.