Jupiter Asset Management Ltd. Invests $896,000 in CVB Financial Corporation $CVBF

Jupiter Asset Management Ltd. purchased a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 47,358 shares of the financial services provider’s stock, valued at approximately $896,000.

A number of other large investors have also recently bought and sold shares of the stock. Salomon & Ludwin LLC bought a new position in shares of CVB Financial during the third quarter valued at $25,000. Hantz Financial Services Inc. increased its position in shares of CVB Financial by 394.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,497 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 2,790 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in CVB Financial by 26.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,039 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 854 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in CVB Financial in the second quarter valued at about $103,000. Finally, GAMMA Investing LLC boosted its position in CVB Financial by 10.7% in the third quarter. GAMMA Investing LLC now owns 6,384 shares of the financial services provider’s stock valued at $121,000 after buying an additional 619 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $20.48 on Monday. The firm has a 50 day simple moving average of $19.89 and a 200 day simple moving average of $19.54. CVB Financial Corporation has a fifty-two week low of $16.01 and a fifty-two week high of $21.48. The firm has a market cap of $2.78 billion, a P/E ratio of 13.65 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $133.85 million for the quarter, compared to analyst estimates of $135.45 million. CVB Financial had a return on equity of 9.30% and a net margin of 32.28%.During the same period last year, the company earned $0.36 EPS. On average, sell-side analysts expect that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were issued a $0.20 dividend. The ex-dividend date was Monday, December 29th. This represents a $0.80 annualized dividend and a yield of 3.9%. CVB Financial’s dividend payout ratio (DPR) is currently 53.33%.

Wall Street Analyst Weigh In

CVBF has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a report on Monday, December 29th. DA Davidson raised their price target on CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a report on Friday, December 19th. Finally, Wall Street Zen downgraded CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Two investment 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, CVB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.