Zurcher Kantonalbank Zurich Cantonalbank Has $734,000 Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,346 shares of the financial services provider’s stock after purchasing an additional 3,992 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVB Financial were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CVBF. Raymond James & Associates increased its holdings in shares of CVB Financial by 102.3% during the third quarter. Raymond James & Associates now owns 34,744 shares of the financial services provider’s stock worth $576,000 after buying an additional 17,566 shares in the last quarter. Bank of New York Mellon Corp grew its position in CVB Financial by 9.6% during 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 acquiring an additional 183,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in CVB Financial by 5.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,924 shares of the financial services provider’s stock valued at $1,192,000 after purchasing an additional 4,039 shares in the last quarter. Yousif Capital Management LLC raised its position in CVB Financial by 6.1% in the 3rd quarter. Yousif Capital Management LLC now owns 66,617 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 3,841 shares during the last quarter. Finally, Nwam LLC acquired a new position in CVB Financial in the third quarter worth $207,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVBF. StockNews.com upgraded CVB Financial to a “sell” rating in a research note on Friday, January 5th. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday, April 22nd. Wedbush reissued a “neutral” rating and issued a $19.00 price target on shares of CVB Financial in a report on Thursday, April 25th. Stephens restated an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods decreased their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.00.

CVB Financial Trading Down 0.1 %

NASDAQ:CVBF opened at $16.46 on Tuesday. The firm has a fifty day simple moving average of $16.96 and a 200 day simple moving average of $17.72. CVB Financial Corp. has a 1-year low of $10.66 and a 1-year high of $21.77. The stock has a market capitalization of $2.30 billion, a PE ratio of 10.83 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. During the same period in the previous year, the business earned $0.42 EPS. CVB Financial’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities analysts predict 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, April 17th. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.86%. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

Insider Activity

In related news, CEO David A. Brager bought 2,000 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now owns 152,814 shares of the company’s stock, valued at approximately $2,559,634.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CVB Financial news, Director George A. Borba, Jr. acquired 59,601 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David A. Brager purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, with a total value of $33,500.00. Following the completion of the transaction, the chief executive officer now owns 152,814 shares of the company’s stock, valued at approximately $2,559,634.50. The disclosure for this purchase can be found here. Insiders have purchased 63,601 shares of company stock valued at $1,067,145 over the last ninety days. 6.00% of the stock is currently owned by company insiders.

About CVB Financial

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.