Natixis Advisors LLC Grows Stake in CVB Financial Corp. (NASDAQ:CVBF)

Natixis Advisors LLC raised its stake in CVB Financial Corp. (NASDAQ:CVBF) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,583 shares of the financial services provider’s stock after acquiring an additional 545 shares during the quarter. Natixis Advisors LLC’s holdings in CVB Financial were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVBF. American Century Companies Inc. increased its holdings in CVB Financial by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after acquiring an additional 58,774 shares during the period. Seaside Wealth Management Inc. purchased a new position in CVB Financial in the 2nd quarter worth approximately $1,395,000. Price T Rowe Associates Inc. MD grew its stake 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 buying an additional 4,744 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of CVB Financial by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 780 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of CVB Financial by 1.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 114,509 shares of the financial services provider’s stock valued at $2,041,000 after purchasing an additional 1,396 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVBF shares. Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Finally, Piper Sandler decreased their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.80.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $23.83 on Friday. The company has a 50-day moving average of $20.13 and a 200 day moving average of $18.32. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 16.66 and a beta of 0.44. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. CVB Financial’s revenue was down 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. On average, equities analysts anticipate 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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.36%. CVB Financial’s dividend payout ratio is presently 55.94%.

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.