Raymond James & Associates Raises Position in CVB Financial Corp. (NASDAQ:CVBF)

Raymond James & Associates lifted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,598 shares of the financial services provider’s stock after purchasing an additional 854 shares during the period. Raymond James & Associates’ holdings in CVB Financial were worth $719,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock valued at $65,244,000 after purchasing an additional 1,204,090 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CVB Financial by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock valued at $59,558,000 after buying an additional 213,038 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CVB Financial by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,094,313 shares of the financial services provider’s stock worth $34,703,000 after buying an additional 183,583 shares during the period. Clifford Capital Partners LLC increased its stake in CVB Financial by 3.9% in the 3rd quarter. Clifford Capital Partners LLC now owns 898,699 shares of the financial services provider’s stock worth $14,891,000 after buying an additional 33,859 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in CVB Financial by 904.1% during the third quarter. Victory Capital Management Inc. now owns 416,953 shares of the financial services provider’s stock valued at $6,909,000 after acquiring an additional 375,426 shares during the period. 74.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research note on Monday. Wedbush cut their price objective on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.00.

CVB Financial Price Performance

Shares of CVBF stock opened at $17.10 on Wednesday. The company has a market cap of $2.39 billion, a PE ratio of 10.75 and a beta of 0.46. The stock’s 50 day simple moving average is $17.02 and its two-hundred day simple moving average is $17.71. CVB Financial Corp. has a 1 year low of $10.66 and a 1 year high of $21.77.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The company had revenue of $138.52 million during the quarter, compared to analyst estimates of $134.88 million. Equities research analysts expect that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.68%. CVB Financial’s dividend payout ratio is presently 50.31%.

Insider Activity at CVB Financial

In other news, CFO E Allen Nicholson acquired 2,000 shares of CVB Financial stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $16.77 per share, with a total value of $33,540.00. Following the transaction, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CVB Financial news, CFO E Allen Nicholson acquired 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $16.77 per share, with a total value of $33,540.00. Following the transaction, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George A. Borba, Jr. bought 59,601 shares of CVB Financial stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the purchase, the director now owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 63,601 shares of company stock worth $1,067,145. Insiders own 6.00% of the company’s stock.

CVB Financial Company Profile

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.