CVB Financial Corp. (NASDAQ:CVBF) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial Corp. (NASDAQ:CVBFFree Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,784,666 shares of the financial services provider’s stock after acquiring an additional 190,343 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CVB Financial were worth $76,412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James & Associates increased its stake 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 purchasing an additional 17,566 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CVB Financial by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 2,094,313 shares of the financial services provider’s stock valued at $34,703,000 after acquiring an additional 183,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CVB Financial by 5.9% in the third 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 acquiring an additional 4,039 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of CVB Financial by 6.1% in the third quarter. Yousif Capital Management LLC now owns 66,617 shares of the financial services provider’s stock worth $1,104,000 after acquiring an additional 3,841 shares during the last quarter. Finally, Nwam LLC purchased a new stake in shares of CVB Financial during the third quarter worth approximately $207,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVBF. Stephens reaffirmed an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods dropped their price objective on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research note on Monday, April 22nd. Finally, Wedbush restated a “neutral” rating and issued a $19.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, CVB Financial has an average rating of “Hold” and an average target price of $19.00.

Check Out Our Latest Stock Report on CVB Financial

CVB Financial Price Performance

Shares of CVBF stock opened at $17.09 on Tuesday. The firm’s 50-day moving average is $16.94 and its two-hundred day moving average is $17.80. CVB Financial Corp. has a 12 month low of $11.03 and a 12 month high of $21.77. The company has a market capitalization of $2.39 billion, a PE ratio of 11.24 and a beta of 0.47.

CVB Financial (NASDAQ:CVBFGet Free Report) last issued 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 return on equity of 10.84% and a net margin of 30.93%. The company had revenue of $126.57 million during the quarter, compared to analyst estimates of $127.46 million. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. Sell-side analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.68%. CVB Financial’s payout ratio is currently 52.63%.

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.

Further Reading

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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