Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,021 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,367 shares of the financial services provider’s stock after buying an additional 2,021 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVB Financial were worth $821,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC lifted its position in shares of CVB Financial by 2.1% in the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 545 shares in the last quarter. Blue Trust Inc. lifted its holdings in CVB Financial by 17.7% in the 4th quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 918 shares in the last quarter. KBC Group NV boosted its stake in CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 1,556 shares during the period. Los Angeles Capital Management LLC grew its holdings in CVB Financial by 9.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 20,401 shares of the financial services provider’s stock valued at $437,000 after buying an additional 1,690 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of CVB Financial by 144.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock valued at $95,000 after buying an additional 2,597 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CVBF shares. Keefe, Bruyette & Woods raised their target price on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens cut their price objective on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.20.

CVB Financial Stock Down 0.9 %

CVBF stock opened at $18.61 on Friday. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58. The firm has a market capitalization of $2.60 billion, a P/E ratio of 12.92 and a beta of 0.46. The company has a fifty day simple moving average of $20.01 and a two-hundred day simple moving average of $20.27.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. As a group, analysts anticipate that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Wednesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is 55.56%.

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.