Ieq Capital LLC Has $671,000 Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

Ieq Capital LLC lifted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 49.2% during the 4th quarter, Holdings Channel reports. The firm owned 31,348 shares of the financial services provider’s stock after acquiring an additional 10,336 shares during the period. Ieq Capital LLC’s holdings in CVB Financial were worth $671,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVBF. Allspring Global Investments Holdings LLC bought a new position in CVB Financial during the third quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CVB Financial by 12.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,891 shares of the financial services provider’s stock valued at $1,434,000 after acquiring an additional 8,835 shares during the period. Natixis Advisors LLC raised its position in shares of CVB Financial by 2.1% in the 3rd quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 545 shares during the period. Thrivent Financial for Lutherans boosted its stake in CVB Financial by 87.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock worth $3,798,000 after acquiring an additional 99,554 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in CVB Financial during the third quarter valued at approximately $215,000. 74.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CVBF shares. Piper Sandler cut their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Keefe, Bruyette & Woods raised 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. Finally, Stephens decreased their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Hold” and a consensus target price of $22.20.

CVB Financial Stock Up 0.7 %

Shares of CVBF stock opened at $19.77 on Wednesday. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The firm has a fifty day moving average of $20.77 and a 200-day moving average of $20.11. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.73 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. On average, equities analysts expect that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s dividend payout ratio is presently 55.56%.

CVB Financial Company Profile

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.