CVB Financial Corporation $CVBF Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in CVB Financial Corporation (NASDAQ:CVBF) by 37.9% in the 4th quarter, HoldingsChannel.com reports. The fund 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 and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in CVB Financial by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 7,110,009 shares of the financial services provider’s stock valued at $134,452,000 after acquiring an additional 147,061 shares in the last quarter. Victory Capital Management Inc. boosted its stake in CVB Financial by 3.7% in the third quarter. Victory Capital Management Inc. now owns 1,956,467 shares of the financial services provider’s stock valued at $36,997,000 after acquiring an additional 69,774 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in CVB Financial by 2.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock valued at $32,359,000 after acquiring an additional 39,771 shares in the last quarter. Bessemer Group Inc. boosted its stake in CVB Financial by 29.5% in the third quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock valued at $20,720,000 after acquiring an additional 249,490 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in CVB Financial by 10.1% in the third quarter. Bank of America Corp DE now owns 786,390 shares of the financial services provider’s stock valued at $14,871,000 after acquiring an additional 72,116 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler upped their price objective on shares of CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, CVB Financial currently has an average rating of “Moderate Buy” and an average target price of $24.50.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. purchased 50,242 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost 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 approximately $15,840,877.60. This trade represents a 6.74% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is owned by corporate insiders.

CVB Financial Trading Up 0.3%

NASDAQ:CVBF opened at $20.50 on Friday. The firm has a market cap of $3.62 billion, a P/E ratio of 13.49 and a beta of 0.66. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $20.15 and its 200-day simple moving average is $19.82. CVB Financial Corporation has a 12-month low of $17.94 and a 12-month high of $21.48.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities analysts anticipate that CVB Financial Corporation will post 1.56 EPS for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a dividend of $0.20 per share. 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 currently 52.63%.

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.