CVB Financial Corp. (NASDAQ:CVBF) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 3.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,952,354 shares of the financial services provider’s stock after purchasing an additional 181,769 shares during the period. Charles Schwab Investment Management Inc.’s holdings in CVB Financial were worth $88,251,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its stake in shares of CVB Financial by 1.0% in the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after buying an additional 58,774 shares during the last quarter. Seaside Wealth Management Inc. acquired a new position in CVB Financial in the second quarter valued at approximately $1,395,000. Price T Rowe Associates Inc. MD boosted its position in CVB Financial by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,803 shares of the financial services provider’s stock worth $1,888,000 after purchasing an additional 4,744 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 780 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of CVB Financial by 87.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock valued at $3,798,000 after purchasing an additional 99,554 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $23.83 on Thursday. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 16.66 and a beta of 0.44. The company’s 50-day simple moving average is $20.02 and its 200-day simple moving average is $18.29. CVB Financial Corp. has a 52-week low of $15.71 and a 52-week high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company had revenue of $126.45 million for the quarter, compared to analysts’ expectations of $126.75 million. During the same period in the previous year, the firm posted $0.42 EPS. CVB Financial’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.36%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio is currently 55.94%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CVBF shares. Wedbush reissued a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, Piper Sandler cut their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVB Financial currently has a consensus rating of “Hold” and an average price target of $20.80.

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.