Allworth Financial LP grew its stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 23,068.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,034 shares of the financial services provider's stock after acquiring an additional 27,913 shares during the quarter. Allworth Financial LP's holdings in CVB Financial were worth $580,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Natixis Advisors LLC lifted its stake in shares of CVB Financial by 2.1% in the 3rd 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. lifted its stake in shares of CVB Financial by 17.7% in the 4th 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 bought a new position in shares of CVB Financial in the 3rd quarter worth approximately $27,000. KBC Group NV lifted its stake in shares of CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after purchasing an additional 1,556 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of CVB Financial by 11.9% in the 4th quarter. Diversified Trust Co now owns 49,520 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 5,249 shares during the period. Hedge funds and other institutional investors own 74.18% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on CVBF shares. Stephens lowered 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 research note on Monday, January 27th. Piper Sandler lowered their price objective on shares of CVB Financial from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.20.
View Our Latest Report on CVB Financial
CVB Financial Trading Down 1.6 %
NASDAQ CVBF traded down $0.33 on Friday, reaching $19.83. 728,297 shares of the stock were exchanged, compared to its average volume of 653,906. CVB Financial Corp. has a one year low of $15.71 and a one year high of $24.58. The firm has a market capitalization of $2.77 billion, a PE ratio of 13.77 and a beta of 0.50. The company's 50-day simple moving average is $20.90 and its two-hundred day simple moving average is $20.02.
CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts forecast that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.
CVB Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Tuesday, December 31st. CVB Financial's payout ratio is currently 55.56%.
About CVB Financial
(
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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