CVB Financial Corp. (NASDAQ:CVBF) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CVB Financial Corp. (NASDAQ:CVBF) by 12.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 36,346 shares of the financial services provider’s stock after purchasing an additional 3,992 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVB Financial were worth $734,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its stake in CVB Financial by 44.1% in the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after purchasing an additional 1,204,090 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of CVB Financial by 904.1% in the 3rd quarter. Victory Capital Management Inc. now owns 416,953 shares of the financial services provider’s stock worth $6,909,000 after acquiring an additional 375,426 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CVB Financial by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock valued at $59,558,000 after acquiring an additional 213,038 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CVB Financial by 9.6% in the 3rd 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. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CVB Financial by 62.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,804 shares of the financial services provider’s stock valued at $6,144,000 after acquiring an additional 142,272 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Insider Activity at CVB Financial

In related news, CFO E Allen Nicholson bought 2,000 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $16.77 per share, with a total value of $33,540.00. Following the purchase, the chief financial officer now owns 92,310 shares in the company, valued at $1,548,038.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO E Allen Nicholson purchased 2,000 shares of CVB Financial stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $16.77 per share, with a total value of $33,540.00. Following the purchase, the chief financial officer now owns 92,310 shares in the company, valued at approximately $1,548,038.70. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director George A. Borba, Jr. bought 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the acquisition, the director now owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The disclosure for this purchase can be found here. Insiders have purchased a total of 63,601 shares of company stock worth $1,067,145 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVBF. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research note on Friday, January 5th. Wedbush reaffirmed a “neutral” rating and set a $19.00 price objective 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 objective on the stock. in a research note on Monday, April 22nd. Keefe, Bruyette & Woods decreased their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Stephens reaffirmed an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.00.

CVB Financial Stock Down 0.1 %

CVB Financial stock opened at $16.46 on Tuesday. CVB Financial Corp. has a 52-week low of $10.66 and a 52-week high of $21.77. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.83 and a beta of 0.46. The firm has a 50-day moving average price of $16.96 and a two-hundred day moving average price of $17.72.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) 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 business had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue was down 8.9% on a year-over-year basis. Research analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

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.