Intech Investment Management LLC Grows Position in CVB Financial Corp. (NASDAQ:CVBF)

Intech Investment Management LLC lifted its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 81.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,229 shares of the financial services provider's stock after buying an additional 30,095 shares during the period. Intech Investment Management LLC's holdings in CVB Financial were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in CVB Financial in the third quarter worth about $8,653,000. JPMorgan Chase & Co. boosted its holdings in shares of CVB Financial by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider's stock worth $6,477,000 after buying an additional 74,004 shares during the last quarter. Smartleaf Asset Management LLC grew its position in CVB Financial by 144.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock valued at $95,000 after buying an additional 2,597 shares during the period. Jane Street Group LLC increased its holdings in CVB Financial by 11.8% during the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider's stock valued at $2,437,000 after buying an additional 14,384 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in CVB Financial by 22.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider's stock worth $1,131,000 after acquiring an additional 9,600 shares during the period. Institutional investors own 74.18% of the company's stock.

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Analyst Ratings Changes

CVBF has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on CVB Financial from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Stephens reduced their price target on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, CVB Financial currently has an average rating of "Hold" and a consensus target price of $22.20.

CVB Financial Trading Down 0.4 %

Shares of CVBF traded down $0.08 during trading hours on Wednesday, reaching $18.86. 464,886 shares of the stock traded hands, compared to its average volume of 762,345. CVB Financial Corp. has a 52-week low of $15.71 and a 52-week high of $24.58. The company has a market cap of $2.63 billion, a P/E ratio of 13.10 and a beta of 0.46. The company's 50-day moving average price is $19.96 and its two-hundred day moving average price is $20.33.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.24%. CVB Financial's payout ratio is 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.