2,493 Shares in CVB Financial Corp. (NASDAQ:CVBF) Bought by Hopwood Financial Services Inc.

Hopwood Financial Services Inc. bought a new position in shares of CVB Financial Corp. (NASDAQ:CVBF) in the fourth quarter, HoldingsChannel reports. The firm bought 2,493 shares of the financial services provider’s stock, valued at approximately $53,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in CVB Financial by 144.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 2,597 shares during the last quarter. KBC Group NV raised its stake in shares of CVB Financial by 35.0% in the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 1,556 shares during the period. Blue Trust Inc. increased its stake in CVB Financial by 17.7% in the 4th quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after buying an additional 918 shares during the period. QRG Capital Management Inc. purchased a new position in CVB Financial in the 4th quarter worth about $201,000. Finally, Crossmark Global Holdings Inc. purchased a new position in CVB Financial in the 4th quarter worth about $206,000. Institutional investors own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVBF. Stephens reduced their price target on shares of 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 increased their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, CVB Financial has a consensus rating of “Hold” and a consensus price target of $22.20.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $18.60 on Thursday. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58. The firm’s 50-day moving average is $20.27 and its two-hundred day moving average is $20.27. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 12.92 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. On average, equities analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Tuesday, December 31st. 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.