37,825 Shares in CVB Financial Corporation $CVBF Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 37,825 shares of the financial services provider’s stock, valued at approximately $715,000.

A number of other hedge funds have also added to or reduced their stakes in CVBF. Royal Bank of Canada raised its stake in shares of CVB Financial by 28.7% in the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 8,432 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of CVB Financial by 36.6% during the first quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after buying an additional 12,992 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CVB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock valued at $1,456,000 after buying an additional 3,442 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in CVB Financial by 848.1% during the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock worth $300,000 after buying an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CVB Financial by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock worth $8,458,000 after buying an additional 38,250 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Performance

CVBF stock opened at $19.24 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.61 billion, a PE ratio of 12.83 and a beta of 0.67. The business has a 50 day moving average of $19.85 and a 200-day moving average of $19.55. CVB Financial Corporation has a 12-month low of $16.01 and a 12-month high of $21.48.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.40 EPS 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 business had revenue of $133.85 million for the quarter, compared to analyst estimates of $135.45 million. During the same period last year, the company posted $0.36 earnings per share. As a group, sell-side analysts expect that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 13th. Stockholders of record on Monday, December 29th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. CVB Financial’s dividend payout ratio (DPR) is currently 53.33%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVBF. DA Davidson raised their price objective on CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

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.