Intech Investment Management LLC Purchases New Position in CVB Financial Corp. (NASDAQ:CVBF)

Intech Investment Management LLC purchased a new stake in CVB Financial Corp. (NASDAQ:CVBF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,693 shares of the financial services provider’s stock, valued at approximately $236,000.

Several other large investors have also made changes to their positions in CVBF. Norges Bank bought a new stake in shares of CVB Financial in the 4th quarter valued at approximately $29,134,000. TFO Wealth Partners LLC grew its stake in shares of CVB Financial by 222,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 17,792 shares of the financial services provider’s stock valued at $359,000 after buying an additional 17,784 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of CVB Financial in the 4th quarter valued at approximately $268,000. Rafferty Asset Management LLC grew its stake in shares of CVB Financial by 27.8% in the 4th quarter. Rafferty Asset Management LLC now owns 214,850 shares of the financial services provider’s stock valued at $4,338,000 after buying an additional 46,692 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of CVB Financial by 368.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock valued at $14,559,000 after buying an additional 567,321 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Trading Up 0.5 %

CVBF opened at $17.73 on Friday. CVB Financial Corp. has a 1-year low of $14.62 and a 1-year high of $21.77. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.66 and a beta of 0.45. The business has a 50 day moving average of $17.85 and a 200-day moving average of $17.23.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $125.27 million during the quarter, compared to analysts’ expectations of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. CVB Financial’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.40 earnings per share. Equities analysts predict that CVB Financial Corp. will post 1.4 EPS for the current year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.51%. CVB Financial’s dividend payout ratio (DPR) is currently 52.63%.

Insiders Place Their Bets

In other CVB Financial news, Director Kimberly H. Sheehy sold 2,961 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the transaction, the director now directly owns 13,156 shares in the company, valued at $225,493.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CVBF has been the subject of several analyst reports. Wedbush reduced their target price on CVB Financial from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Stephens boosted their target price on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 target price (up from $19.00) on shares of CVB Financial in a report on Friday, July 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, CVB Financial currently has a consensus rating of “Hold” and a consensus target price of $19.75.

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.