Intech Investment Management LLC reduced its position in shares of CVB Financial Corporation (NASDAQ:CVBF – Free Report) by 37.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,143 shares of the financial services provider’s stock after selling 38,482 shares during the period. Intech Investment Management LLC’s holdings in CVB Financial were worth $1,174,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC purchased a new position in shares of CVB Financial during the fourth quarter worth $473,000. Hantz Financial Services Inc. boosted its position in shares of CVB Financial by 268.8% during the fourth quarter. Hantz Financial Services Inc. now owns 12,896 shares of the financial services provider’s stock worth $240,000 after buying an additional 9,399 shares during the period. MQS Management LLC boosted its position in shares of CVB Financial by 47.0% during the fourth quarter. MQS Management LLC now owns 28,545 shares of the financial services provider’s stock worth $531,000 after buying an additional 9,125 shares during the period. Covestor Ltd boosted its position in shares of CVB Financial by 21.6% during the fourth quarter. Covestor Ltd now owns 7,260 shares of the financial services provider’s stock worth $135,000 after buying an additional 1,289 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,791 shares during the period. 74.18% of the stock is currently owned by hedge funds and other institutional investors.
CVB Financial Stock Performance
NASDAQ:CVBF opened at $20.50 on Friday. The firm has a market capitalization of $3.62 billion, a PE ratio of 13.49 and a beta of 0.66. The business’s fifty day moving average price is $20.15 and its 200 day moving average price is $19.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. CVB Financial Corporation has a 12 month low of $17.94 and a 12 month high of $21.48.
CVB Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, April 1st. CVB Financial’s dividend payout ratio is 52.63%.
Insider Buying and Selling
In other CVB Financial news, Director George A. Borba, Jr. bought 50,242 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $19.90 per share, with a total value of $999,815.80. Following the completion of the acquisition, the director directly owned 796,024 shares of the company’s stock, valued at $15,840,877.60. This represents a 6.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CVBF. Piper Sandler raised their price target on CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CVB Financial currently has an average rating of “Moderate Buy” and an average price target of $24.50.
Check Out Our Latest Analysis on CVB Financial
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.
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