Assetmark Inc. Buys 5,038 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Assetmark Inc. raised its holdings in CVB Financial Corp. (NASDAQ:CVBFFree Report) by 141.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,598 shares of the financial services provider’s stock after buying an additional 5,038 shares during the period. Assetmark Inc.’s holdings in CVB Financial were worth $174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Raymond James & Associates lifted its stake in shares of CVB Financial by 2.5% in the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock valued at $719,000 after buying an additional 854 shares in the last quarter. Covestor Ltd lifted its position in shares of CVB Financial by 11.2% during the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 885 shares in the last quarter. Equitable Trust Co. lifted its position in shares of CVB Financial by 6.5% during the fourth quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 1,705 shares in the last quarter. Strs Ohio bought a new position in shares of CVB Financial during the fourth quarter valued at about $36,000. Finally, Natixis Advisors L.P. lifted its position in shares of CVB Financial by 10.1% during the third quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 1,905 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVBF has been the topic of a number of recent analyst reports. Stephens reissued an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target on the stock. in a research report on Monday, April 22nd. Wedbush restated a “neutral” rating and set a $19.00 price objective on shares of CVB Financial in a report on Thursday, April 25th. Keefe, Bruyette & Woods decreased 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 report on Friday, April 26th. Finally, Janney Montgomery Scott downgraded shares of CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.00.

Read Our Latest Analysis on CVB Financial

CVB Financial Stock Performance

NASDAQ CVBF opened at $16.19 on Friday. CVB Financial Corp. has a 52-week low of $11.83 and a 52-week high of $21.77. The company has a 50-day simple moving average of $16.81 and a 200 day simple moving average of $17.81. The company has a market capitalization of $2.26 billion, a PE ratio of 10.65 and a beta of 0.47.

CVB Financial (NASDAQ:CVBFGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. As a group, analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.94%. CVB Financial’s payout ratio is 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.

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

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