12,185 Shares in CVB Financial Corp. (NASDAQ:CVBF) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new stake in CVB Financial Corp. (NASDAQ:CVBF) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 12,185 shares of the financial services provider’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVBF. Allspring Global Investments Holdings LLC bought a new position in CVB Financial in the third quarter valued at about $27,000. KBC Group NV boosted its stake in shares of CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 1,556 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of CVB Financial during the 3rd quarter worth approximately $107,000. Blue Trust Inc. lifted its holdings in CVB Financial by 17.7% in the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after buying an additional 918 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in CVB Financial in the fourth quarter valued at approximately $206,000. 74.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CVBF shares. Stephens cut their price target 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. Piper Sandler cut their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.20.

CVB Financial Price Performance

NASDAQ CVBF opened at $20.41 on Thursday. CVB Financial Corp. has a one year low of $15.71 and a one year high of $24.58. The firm has a market cap of $2.85 billion, a P/E ratio of 14.17 and a beta of 0.50. The stock’s 50-day moving average is $21.07 and its 200-day moving average is $20.00.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. Equities 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 was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is presently 55.56%.

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.