Raymond James & Associates Invests $228,000 in CVB Financial Corp. (NASDAQ:CVBF)

Raymond James & Associates acquired a new position in CVB Financial Corp. (NASDAQ:CVBF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,178 shares of the financial services provider’s stock, valued at approximately $228,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in CVB Financial by 96.0% during the 2nd quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 860 shares during the period. BerganKDV Wealth Management LLC raised its stake in CVB Financial by 175.8% during the 1st quarter. BerganKDV Wealth Management LLC now owns 1,765 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,125 shares during the period. Assetmark Inc. raised its stake in CVB Financial by 174.4% during the 1st quarter. Assetmark Inc. now owns 2,294 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,458 shares during the period. Royal Bank of Canada raised its stake in CVB Financial by 277.7% during the 3rd quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 2,116 shares during the period. Finally, Point72 Middle East FZE bought a new stake in CVB Financial during the 4th quarter valued at approximately $92,000. Institutional investors own 74.51% of the company’s stock.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. acquired 212,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was bought at an average price of $15.84 per share, for a total transaction of $3,358,080.00. Following the acquisition, the director now directly owns 469,704 shares in the company, valued at $7,440,111.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.40% of the company’s stock.

CVB Financial Price Performance

NASDAQ:CVBF opened at $16.28 on Monday. CVB Financial Corp. has a 1 year low of $10.66 and a 1 year high of $29.25. The stock’s 50 day simple moving average is $16.47 and its two-hundred day simple moving average is $15.50. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 9.52 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $137.68 million for the quarter, compared to the consensus estimate of $134.52 million. CVB Financial had a return on equity of 12.12% and a net margin of 37.18%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, analysts anticipate that CVB Financial Corp. will post 1.64 EPS for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Wednesday, October 4th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend was Tuesday, October 3rd. CVB Financial’s dividend payout ratio (DPR) is 46.78%.

Analyst Ratings Changes

CVBF has been the topic of several recent analyst reports. Wedbush decreased their target price on CVB Financial from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. StockNews.com initiated coverage on CVB Financial in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.00.

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.