Raymond James Financial Inc. acquired a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 442,877 shares of the financial services provider's stock, valued at approximately $9,483,000. Raymond James Financial Inc. owned 0.32% of CVB Financial as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of CVBF. Natixis Advisors LLC raised its holdings in CVB Financial by 2.1% in the 3rd quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider's stock valued at $474,000 after acquiring an additional 545 shares during the last quarter. Blue Trust Inc. increased its stake in CVB Financial by 17.7% in the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider's stock valued at $131,000 after purchasing an additional 918 shares during the last quarter. KBC Group NV lifted its position in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after buying an additional 1,556 shares during the period. Los Angeles Capital Management LLC boosted its stake in CVB Financial by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 20,401 shares of the financial services provider's stock worth $437,000 after buying an additional 1,690 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock valued at $95,000 after buying an additional 2,597 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.
Analyst Ratings Changes
CVBF has been the topic of several recent analyst reports. Stephens cut 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. Keefe, Bruyette & Woods increased their price target 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, CVB Financial has an average rating of "Hold" and an average target price of $22.20.
Check Out Our Latest Research Report on CVBF
CVB Financial Stock Down 0.9 %
Shares of NASDAQ CVBF traded down $0.18 during midday trading on Tuesday, hitting $18.94. The stock had a trading volume of 694,261 shares, compared to its average volume of 764,344. The company has a fifty day moving average price of $19.99 and a 200 day moving average price of $20.32. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.15 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.
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, topping 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%. On average, research analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.
CVB Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd will be issued a $0.20 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.22%. CVB Financial's dividend payout ratio is currently 55.56%.
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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