Cibc World Markets Corp Invests $265,000 in CVB Financial Corp. (NASDAQ:CVBF)

Cibc World Markets Corp acquired a new stake in CVB Financial Corp. (NASDAQ:CVBF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,399 shares of the financial services provider’s stock, valued at approximately $265,000.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of CVB Financial by 4.1% in the fourth 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. Geode Capital Management LLC grew its position in CVB Financial by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after acquiring an additional 15,628 shares in the last quarter. Victory Capital Management Inc. increased its stake in CVB Financial by 210.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock worth $31,858,000 after purchasing an additional 1,009,146 shares during the period. Principal Financial Group Inc. increased its stake in CVB Financial by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider’s stock worth $13,634,000 after purchasing an additional 17,734 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of CVB Financial during the third quarter worth about $8,653,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Down 0.9 %

Shares of CVBF opened at $18.94 on Wednesday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.15 and a beta of 0.46. The firm’s fifty day simple moving average is $19.96 and its 200-day simple moving average is $20.33. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $24.58.

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, topping 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 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 will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.22%. CVB Financial’s payout ratio is currently 55.56%.

Analysts Set New Price Targets

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

CVB Financial 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.