Dynamic Technology Lab Private Ltd Invests $715,000 in CVB Financial Corporation $CVBF

Dynamic Technology Lab Private Ltd acquired a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 37,825 shares of the financial services provider’s stock, valued at approximately $715,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jupiter Asset Management Ltd. bought a new stake in CVB Financial in the third quarter worth approximately $896,000. LSV Asset Management bought a new position in shares of CVB Financial during the 3rd quarter worth approximately $2,324,000. Norges Bank bought a new position in shares of CVB Financial during the 2nd quarter worth approximately $28,320,000. Massachusetts Financial Services Co. MA grew its position in shares of CVB Financial by 9.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,699,972 shares of the financial services provider’s stock worth $32,146,000 after buying an additional 140,721 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of CVB Financial by 13.9% in 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 in the last quarter. Institutional investors own 74.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. DA Davidson raised their price target on shares of CVB Financial from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, CVB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

CVB Financial Trading Up 1.7%

Shares of CVB Financial stock opened at $19.24 on Tuesday. The stock has a market capitalization of $2.61 billion, a PE ratio of 12.83 and a beta of 0.67. CVB Financial Corporation has a 52 week low of $16.01 and a 52 week high of $21.48. The stock has a 50 day moving average price of $19.85 and a two-hundred day moving average price of $19.55. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.72 and a current ratio of 0.72.

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

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 13th. Shareholders of record on Monday, December 29th were issued 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 4.2%. CVB Financial’s dividend payout ratio is presently 53.33%.

CVB Financial 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.