Blue Trust Inc. Purchases 918 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Blue Trust Inc. raised its position in CVB Financial Corp. (NASDAQ:CVBF) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,108 shares of the financial services provider’s stock after acquiring an additional 918 shares during the quarter. Blue Trust Inc.’s holdings in CVB Financial were worth $131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CVBF. AQR Capital Management LLC lifted its stake in shares of CVB Financial by 132.1% in the 2nd quarter. AQR Capital Management LLC now owns 24,196 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 13,771 shares during the period. SG Americas Securities LLC purchased a new stake in CVB Financial during the third quarter valued at approximately $107,000. GAMMA Investing LLC raised its position in CVB Financial by 21.7% in the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 780 shares during the period. Diversified Trust Co boosted its stake in shares of CVB Financial by 3.5% during the 3rd quarter. Diversified Trust Co now owns 44,271 shares of the financial services provider’s stock worth $789,000 after acquiring an additional 1,491 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in shares of CVB Financial by 4.7% during the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 859 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVBF. Stephens decreased their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a 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 research note on Wednesday, December 4th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. Finally, Piper Sandler reduced their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.20.

CVB Financial Stock Up 0.4 %

Shares of CVB Financial stock opened at $20.90 on Thursday. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58. The stock’s 50-day simple moving average is $21.65 and its 200-day simple moving average is $19.91. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 14.51 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate 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, equities analysts expect that CVB Financial Corp. will post 1.43 earnings per share for the current year.

CVB Financial Dividend Announcement

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 dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.83%. CVB Financial’s payout ratio is 55.56%.

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.