CVB Financial Corp. (NASDAQ:CVBF) Shares Purchased by Inspire Advisors LLC

Inspire Advisors LLC grew its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,545 shares of the financial services provider’s stock after purchasing an additional 11,534 shares during the period. Inspire Advisors LLC owned 0.07% of CVB Financial worth $2,153,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CVB Financial by 5.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,367 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 2,021 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CVB Financial during the 4th quarter worth about $9,483,000. Proficio Capital Partners LLC acquired a new stake in shares of CVB Financial during the 4th quarter worth about $699,000. Victory Capital Management Inc. boosted its stake in shares of CVB Financial by 210.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock worth $31,858,000 after purchasing an additional 1,009,146 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider’s stock worth $110,401,000 after purchasing an additional 204,164 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Price Performance

Shares of CVBF stock opened at $19.04 on Tuesday. The firm has a market cap of $2.66 billion, a P/E ratio of 13.22 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 firm’s 50-day simple moving average is $20.38 and its 200-day simple moving average is $20.28.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 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%. Analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 4.20%. CVB Financial’s payout ratio is 55.56%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens decreased their price target 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. Keefe, Bruyette & Woods increased their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.20.

CVB Financial 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.