Intech Investment Management LLC Purchases 30,799 Shares of CVB Financial Corporation $CVBF

Key Points

• Intech Investment Management LLC increased its holdings in CVB Financial Corporation by 45.8%, acquiring an additional 30,799 shares in the 1st quarter, bringing its total ownership to approximately $1.81 million.
• CVB Financial recently reported earnings of $0.36 EPS for the last quarter, slightly beating consensus estimates, and is projecting 1.41 EPS for the current fiscal year.
• The company announced a quarterly dividend of $0.20 per share, translating to an annualized yield of 4.1%, with a payout ratio of 55.17%.

Intech Investment Management LLC boosted its position in CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 45.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,028 shares of the financial services provider's stock after buying an additional 30,799 shares during the period. Intech Investment Management LLC owned approximately 0.07% of CVB Financial worth $1,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG increased its stake in CVB Financial by 50.4% in the fourth quarter. Deutsche Bank AG now owns 117,880 shares of the financial services provider's stock valued at $2,524,000 after purchasing an additional 39,490 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CVB Financial by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,409 shares of the financial services provider's stock valued at $1,615,000 after purchasing an additional 2,879 shares in the last quarter. ProShare Advisors LLC increased its stake in CVB Financial by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 39,906 shares of the financial services provider's stock valued at $854,000 after purchasing an additional 12,289 shares in the last quarter. Squarepoint Ops LLC bought a new stake in CVB Financial in the fourth quarter valued at $643,000. Finally, Whelan Financial bought a new stake in CVB Financial in the fourth quarter valued at $227,000. Institutional investors and hedge funds own 74.18% of the company's stock.

CVB Financial Trading Down 1.3%

Shares of CVBF stock traded down $0.26 during trading on Friday, reaching $19.95. 1,645,432 shares of the company's stock traded hands, compared to its average volume of 620,927. The company has a market capitalization of $2.75 billion, a P/E ratio of 13.76 and a beta of 0.71. The firm's 50-day moving average is $19.85 and its 200 day moving average is $19.18. CVB Financial Corporation has a 1 year low of $16.01 and a 1 year high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. The business had revenue of $126.35 million for the quarter, compared to analysts' expectations of $127.95 million. During the same period in the prior year, the company posted $0.36 EPS. As a group, sell-side analysts predict that CVB Financial Corporation will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. CVB Financial's dividend payout ratio (DPR) is 55.17%.

Insider Buying and Selling at CVB Financial

In other news, Director Anna Kan sold 11,000 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total transaction of $223,850.00. Following the sale, the director owned 31,593 shares in the company, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George A. Borba, Jr. acquired 53,567 shares of the stock in a transaction dated Monday, August 4th. The shares were bought at an average price of $18.67 per share, for a total transaction of $1,000,095.89. Following the transaction, the director owned 718,688 shares in the company, valued at approximately $13,417,904.96. This represents a 8.05% increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods decreased their target price on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.25.

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.