Intech Investment Management LLC Acquires 30,095 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Intech Investment Management LLC raised its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 81.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,229 shares of the financial services provider’s stock after acquiring an additional 30,095 shares during the quarter. Intech Investment Management LLC’s holdings in CVB Financial were worth $1,439,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Cibc World Markets Corp bought a new position in shares of CVB Financial during the 4th quarter worth approximately $265,000. Natixis Advisors LLC grew its stake in shares of CVB Financial by 13.1% in the fourth quarter. Natixis Advisors LLC now owns 30,071 shares of the financial services provider’s stock valued at $644,000 after buying an additional 3,488 shares in the last quarter. Swiss National Bank grew its stake in shares of CVB Financial by 0.8% in the fourth quarter. Swiss National Bank now owns 274,700 shares of the financial services provider’s stock valued at $5,881,000 after buying an additional 2,100 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of CVB Financial in the fourth quarter valued at $53,000. Finally, Inspire Advisors LLC grew its stake in shares of CVB Financial by 13.0% in the fourth quarter. Inspire Advisors LLC now owns 100,545 shares of the financial services provider’s stock valued at $2,153,000 after buying an additional 11,534 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $18.70 on Friday. The business has a fifty day simple moving average of $20.00 and a two-hundred day simple moving average of $20.27. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 12.99 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, equities analysts anticipate that CVB Financial Corp. 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 will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Wednesday, April 2nd. CVB Financial’s dividend payout ratio is currently 55.56%.

Wall Street Analyst Weigh In

CVBF has been the subject of several analyst reports. Stephens decreased their target price on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.20.

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.