Intech Investment Management LLC Grows Stake in CVB Financial Corporation $CVBF

Intech Investment Management LLC boosted its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF) by 36.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,625 shares of the financial services provider’s stock after buying an additional 27,053 shares during the period. Intech Investment Management LLC owned approximately 0.07% of CVB Financial worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in CVB Financial during the 2nd quarter worth about $28,320,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of CVB Financial in the 2nd quarter valued at about $5,636,000. Bessemer Group Inc. increased its holdings in CVB Financial by 29.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock worth $20,720,000 after acquiring an additional 249,490 shares in the last quarter. Jane Street Group LLC acquired a new stake in CVB Financial in the 1st quarter worth about $4,461,000. Finally, Edgestream Partners L.P. acquired a new position in CVB Financial in the 2nd quarter valued at $3,598,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVBF. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. DA Davidson lifted their price objective on shares of CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.17.

CVB Financial Stock Performance

Shares of CVBF stock opened at $19.49 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.73 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $19.86 and a 200-day simple moving average of $19.55. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 12.99 and a beta of 0.67. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $21.48.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.40 earnings per share for the quarter, hitting 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 9.25% and a net margin of 32.28%.During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, equities analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 13th. Stockholders of record on Monday, December 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, December 29th. CVB Financial’s dividend payout ratio (DPR) is presently 53.33%.

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.