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

Intech Investment Management LLC boosted its stake in CVB Financial Corporation (NASDAQ:CVBF) by 36.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 101,625 shares of the financial services provider’s stock after acquiring an additional 27,053 shares during the period. Intech Investment Management LLC’s holdings in CVB Financial were worth $1,922,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CVBF. Massachusetts Financial Services Co. MA boosted its position in CVB Financial by 9.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,699,972 shares of the financial services provider’s stock worth $32,146,000 after acquiring an additional 140,721 shares during the last quarter. Norges Bank acquired a new stake in CVB Financial in the 2nd quarter worth about $28,320,000. Bessemer Group Inc. grew 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 valued at $20,720,000 after buying an additional 249,490 shares during the period. Principal Financial Group Inc. increased its stake in shares of CVB Financial by 13.9% during the 3rd quarter. Principal Financial Group Inc. now owns 731,613 shares of the financial services provider’s stock valued at $13,835,000 after acquiring an additional 89,179 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of CVB Financial by 9.8% in the second quarter. Bank of America Corp DE now owns 714,274 shares of the financial services provider’s stock worth $14,135,000 after acquiring an additional 63,833 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Price Performance

CVBF stock opened at $19.49 on Thursday. The stock’s 50 day moving average is $19.86 and its two-hundred day moving average is $19.55. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $21.48. The company has a market capitalization of $2.65 billion, a PE ratio of 12.99 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 0.72 and a debt-to-equity ratio of 0.22.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. CVB Financial had a net margin of 32.28% and a return on equity of 9.25%. The business had revenue of $133.85 million during the quarter, compared to analyst estimates of $135.45 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Monday, December 29th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 29th. This represents a $0.80 annualized dividend and a yield of 4.1%. CVB Financial’s dividend payout ratio is presently 53.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVBF. DA Davidson upped their price objective on CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Friday, December 19th. Weiss Ratings reissued a “hold (c)” rating on shares of CVB Financial in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

About CVB Financial

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.