International Assets Investment Management LLC Purchases New Holdings in CVB Financial Corporation $CVBF

International Assets Investment Management LLC acquired a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 40,000 shares of the financial services provider’s stock, valued at approximately $864,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in CVB Financial during the 2nd quarter worth $579,285,000. Dimensional Fund Advisors LP raised its stake in CVB Financial by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider’s stock worth $147,620,000 after buying an additional 331,307 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of CVB Financial in the second quarter worth about $38,066,000. Bessemer Group Inc. lifted its holdings in shares of CVB Financial by 34.1% during the 1st quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock valued at $28,439,000 after purchasing an additional 372,732 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of CVB Financial in the 2nd quarter valued at approximately $29,928,000. 74.18% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mike Maddox acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was bought at an average price of $22.03 per share, with a total value of $220,300.00. Following the acquisition, the director owned 13,138 shares in the company, valued at $289,430.14. This represents a 318.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVBF. Piper Sandler lifted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Wall Street Zen raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. DA Davidson boosted their price target on CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Stephens raised CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings raised CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 26th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, CVB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.25.

CVB Financial Trading Up 1.9%

CVB Financial stock opened at $23.37 on Thursday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 13.81 and a beta of 0.68. The firm has a 50-day moving average of $22.30 and a 200-day moving average of $21.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.77. CVB Financial Corporation has a one year low of $18.10 and a one year high of $23.80.

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

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. CVB Financial’s payout ratio is 52.98%.

About CVB Financial

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.