40,000 Shares of CVB Financial Corporation $CVBF Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in CVB Financial Corporation (NASDAQ:CVBF) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,000 shares of the financial services provider’s stock, valued at approximately $864,000.

Several other large investors have also recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of CVB Financial by 132.7% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,600 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 14,600 shares during the period. Momentous Wealth Management Inc. acquired a new position in shares of CVB Financial in the 3rd quarter valued at about $2,560,000. GAMMA Investing LLC raised its holdings in shares of CVB Financial by 4.9% during the third quarter. GAMMA Investing LLC now owns 9,981 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 462 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of CVB Financial by 16.9% in the 2nd quarter. QRG Capital Management Inc. now owns 12,276 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,776 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of CVB Financial in the 2nd quarter valued at $4,900,000. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CVB Financial news, Director Mike Maddox purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average cost of $22.03 per share, with a total value of $220,300.00. Following the completion of the acquisition, the director directly owned 13,138 shares of the company’s stock, valued at $289,430.14. This represents a 318.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by corporate insiders.

CVB Financial Trading Up 1.9%

Shares of CVB Financial stock opened at $23.37 on Thursday. CVB Financial Corporation has a 52-week low of $18.10 and a 52-week high of $23.80. The firm has a market capitalization of $4.11 billion, a PE ratio of 13.81 and a beta of 0.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.77. The company’s fifty day moving average price is $22.30 and its two-hundred day moving average price is $21.20.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). CVB Financial had a net margin of 29.54% and a return on equity of 9.42%. The company had revenue of $191.74 million during the quarter, compared to the consensus estimate of $192.80 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, analysts expect that CVB Financial Corporation will post 1.77 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.20 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.4%. CVB Financial’s dividend payout ratio (DPR) is 52.98%.

Wall Street Analyst Weigh In

CVBF has been the topic of several recent analyst reports. DA Davidson lifted their price target on CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective on the stock in a report on Thursday, August 6th. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 26th. Piper Sandler upped their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Wall Street Zen upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.

CVB Financial Company Profile

CVB Financial Corp. is a bank holding company headquartered in Ontario, California. Its principal subsidiary, Citizens Business Bank, provides banking and financial services to businesses, professionals, and individuals, with a focus on relationship-based commercial banking.

Citizens Business Bank offers business checking and savings accounts, commercial and real estate loans, lines of credit, equipment financing, treasury management, cash management, and international banking services.