Raymond James Financial Inc. Takes Position in CVB Financial Corp. (NASDAQ:CVBF)

Raymond James Financial Inc. purchased a new position in CVB Financial Corp. (NASDAQ:CVBF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 442,877 shares of the financial services provider’s stock, valued at approximately $9,483,000. Raymond James Financial Inc. owned about 0.32% of CVB Financial at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CVBF. Natixis Advisors LLC boosted its stake in shares of CVB Financial by 2.1% in the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 545 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of CVB Financial by 87.6% in the third quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock worth $3,798,000 after acquiring an additional 99,554 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of CVB Financial by 171.2% in the third quarter. Intech Investment Management LLC now owns 37,134 shares of the financial services provider’s stock worth $662,000 after acquiring an additional 23,441 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after acquiring an additional 181,769 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of CVB Financial by 9.8% in the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock worth $4,716,000 after acquiring an additional 23,682 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVBF shares. Stephens lowered 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. Keefe, Bruyette & Woods boosted 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.20.

CVB Financial Stock Performance

NASDAQ CVBF opened at $18.70 on Friday. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The stock’s fifty day moving average is $20.00 and its two-hundred day moving average is $20.27. The firm has a market capitalization of $2.61 billion, a P/E ratio of 12.99 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Wednesday, April 2nd. CVB Financial’s dividend payout ratio (DPR) is presently 55.56%.

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.