Crossmark Global Holdings Inc. Takes Position in CVB Financial Corp. (NASDAQ:CVBF)

Crossmark Global Holdings Inc. bought a new stake in CVB Financial Corp. (NASDAQ:CVBF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,612 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds also recently modified their holdings of CVBF. Wellington Management Group LLP purchased a new stake in shares of CVB Financial during the third quarter worth $8,653,000. JPMorgan Chase & Co. raised its holdings in CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock valued at $6,477,000 after buying an additional 74,004 shares in the last quarter. Jane Street Group LLC raised its holdings in CVB Financial by 11.8% during the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock valued at $2,437,000 after buying an additional 14,384 shares in the last quarter. Citigroup Inc. raised its holdings in CVB Financial by 9.8% during the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock valued at $4,716,000 after buying an additional 23,682 shares in the last quarter. Finally, Barclays PLC raised its holdings in CVB Financial by 79.5% during the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock valued at $5,186,000 after buying an additional 128,869 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analyst Ratings Changes

CVBF has been the topic of several recent research reports. 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 report on Friday, November 1st. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. Stephens lowered their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods raised their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Four 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 a consensus rating of “Hold” and an average price target of $22.20.

CVB Financial Stock Up 1.6 %

Shares of CVBF stock opened at $21.02 on Tuesday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 14.60 and a beta of 0.50. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The firm has a fifty day moving average of $21.99 and a 200-day moving average of $19.80.

CVB Financial (NASDAQ:CVBF) last issued its quarterly 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 9.41%. Research analysts expect that CVB Financial Corp. will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.81%. CVB Financial’s dividend payout ratio is currently 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.