Intech Investment Management LLC Grows Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Intech Investment Management LLC increased its stake in CVB Financial Corp. (NASDAQ:CVBF) by 171.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,134 shares of the financial services provider’s stock after buying an additional 23,441 shares during the period. Intech Investment Management LLC’s holdings in CVB Financial were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in CVB Financial during the 3rd quarter valued at $27,000. nVerses Capital LLC boosted its position in shares of CVB Financial by 466.7% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,400 shares during the last quarter. Versant Capital Management Inc increased its holdings in CVB Financial by 832.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,574 shares in the last quarter. Innealta Capital LLC purchased a new position in CVB Financial in the 2nd quarter worth about $38,000. Finally, GAMMA Investing LLC raised its position in CVB Financial by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after buying an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 1.7 %

CVBF stock opened at $23.42 on Friday. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $24.58. The firm’s fifty day simple moving average is $20.23 and its two-hundred day simple moving average is $18.37. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 16.38 and a beta of 0.44.

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

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.42%. CVB Financial’s dividend payout ratio (DPR) is presently 55.94%.

Wall Street Analysts Forecast Growth

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