Intech Investment Management LLC Boosts Holdings in CVB Financial Corporation $CVBF

Intech Investment Management LLC increased its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 45.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 98,028 shares of the financial services provider’s stock after buying an additional 30,799 shares during the quarter. Intech Investment Management LLC owned about 0.07% of CVB Financial worth $1,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in shares of CVB Financial during the 1st quarter worth $27,000. Brooklyn Investment Group increased its holdings in CVB Financial by 240,700.0% in the 1st quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 2,407 shares during the last quarter. Quarry LP lifted its stake in CVB Financial by 877.3% during the first quarter. Quarry LP now owns 3,010 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 2,702 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of CVB Financial by 58.8% in the first quarter. Blue Trust Inc. now owns 4,470 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 1,655 shares during the period. Finally, KBC Group NV boosted its holdings in CVB Financial by 20.4% in the first quarter. KBC Group NV now owns 7,231 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,226 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

Insider Buying and Selling at CVB Financial

In other CVB Financial news, Director Anna Kan sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total transaction of $223,850.00. Following the sale, the director directly owned 31,593 shares in the company, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George A. Borba, Jr. bought 53,567 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average cost of $18.67 per share, with a total value of $1,000,095.89. Following the transaction, the director owned 718,688 shares of the company’s stock, valued at $13,417,904.96. This represents a 8.05% increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.

CVB Financial Stock Performance

CVB Financial stock opened at $19.51 on Wednesday. The stock’s 50 day moving average price is $19.90 and its 200 day moving average price is $19.17. The firm has a market capitalization of $2.69 billion, a PE ratio of 13.46 and a beta of 0.71. CVB Financial Corporation has a one year low of $16.01 and a one year high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. CVB Financial had a return on equity of 9.21% and a net margin of 30.99%.The business had revenue of $126.35 million for the quarter, compared to analyst estimates of $127.95 million. During the same period in the prior year, the company posted $0.36 EPS. On average, analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a yield of 4.1%. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVBF shares. Piper Sandler increased their target price on CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Keefe, Bruyette & Woods lowered their price target on CVB Financial from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

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.