Ieq Capital LLC Has $671,000 Stake in CVB Financial Corp. (NASDAQ:CVBF)

Ieq Capital LLC boosted its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 49.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,348 shares of the financial services provider’s stock after buying an additional 10,336 shares during the period. Ieq Capital LLC’s holdings in CVB Financial were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVBF. Kestra Investment Management LLC acquired a new stake in shares of CVB Financial during the 4th quarter valued at about $261,000. Principal Financial Group Inc. lifted its stake in CVB Financial by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 636,802 shares of the financial services provider’s stock worth $13,634,000 after purchasing an additional 17,734 shares during the period. Allworth Financial LP boosted its holdings in CVB Financial by 23,068.6% during the fourth quarter. Allworth Financial LP now owns 28,034 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 27,913 shares in the last quarter. Savant Capital LLC bought a new stake in shares of CVB Financial in the 4th quarter valued at approximately $221,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CVB Financial by 17.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 95,034 shares of the financial services provider’s stock valued at $2,086,000 after purchasing an additional 14,143 shares during the period. Institutional investors own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVBF shares. Piper Sandler decreased their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Stephens cut their price objective on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.20.

CVB Financial Price Performance

CVBF stock opened at $19.77 on Wednesday. The business has a fifty day moving average price of $20.77 and a 200 day moving average price of $20.11. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.73 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating 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%. On average, equities analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is presently 55.56%.

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.