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

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CVB Financial Corp. (NASDAQ:CVBF) by 5.6% in the 4th quarter, Holdings Channel reports. The firm 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.

A number of other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in CVB Financial by 210.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock valued at $31,858,000 after acquiring an additional 1,009,146 shares during the period. Wellington Management Group LLP purchased a new stake in shares of CVB Financial during the third quarter valued at $8,653,000. Raymond James Financial Inc. bought a new position in shares of CVB Financial in the fourth quarter worth about $9,483,000. Jacobs Asset Management LLC purchased a new position in CVB Financial in the 3rd quarter worth about $4,455,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in CVB Financial by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider’s stock valued at $110,401,000 after buying an additional 204,164 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Performance

NASDAQ CVBF opened at $18.61 on Friday. The company has a market cap of $2.60 billion, a PE ratio of 12.92 and a beta of 0.46. CVB Financial Corp. has a 52-week low of $15.71 and a 52-week high of $24.58. The firm’s 50 day moving average price is $20.01 and its 200-day moving average price is $20.27.

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

CVB Financial Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, April 2nd. CVB Financial’s dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

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

CVB Financial Company 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.