Jupiter Asset Management Ltd. Invests $896,000 in CVB Financial Corporation $CVBF

Jupiter Asset Management Ltd. purchased a new position in shares of CVB Financial Corporation (NASDAQ:CVBF) in the third quarter, HoldingsChannel.com reports. The fund purchased 47,358 shares of the financial services provider’s stock, valued at approximately $896,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVBF. Massachusetts Financial Services Co. MA raised 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 valued at $32,146,000 after acquiring an additional 140,721 shares during the last quarter. Norges Bank acquired a new stake in shares of CVB Financial during the second quarter worth $28,320,000. Bessemer Group Inc. increased its holdings in CVB Financial by 29.5% in the third quarter. Bessemer Group Inc. now owns 1,095,694 shares of the financial services provider’s stock valued at $20,720,000 after purchasing an additional 249,490 shares during the last quarter. Principal Financial Group Inc. lifted its stake in CVB Financial by 13.9% in the third quarter. Principal Financial Group Inc. now owns 731,613 shares of the financial services provider’s stock valued at $13,835,000 after buying an additional 89,179 shares during the period. Finally, Bank of America Corp DE lifted its stake in CVB Financial by 9.8% in the second quarter. Bank of America Corp DE now owns 714,274 shares of the financial services provider’s stock valued at $14,135,000 after buying an additional 63,833 shares during the period. 74.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVBF has been the subject of several analyst reports. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Weiss Ratings restated a “hold (c)” rating on shares of CVB Financial in a report on Monday, December 29th. Finally, DA Davidson increased their target price 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. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, CVB Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

CVB Financial Stock Performance

Shares of CVBF opened at $20.48 on Monday. The stock has a 50 day simple moving average of $19.89 and a 200 day simple moving average of $19.54. CVB Financial Corporation has a 52-week low of $16.01 and a 52-week high of $21.48. The firm has a market capitalization of $2.78 billion, a PE ratio of 13.65 and a beta of 0.68.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $133.85 million for the quarter, compared to analyst estimates of $135.45 million. CVB Financial had a net margin of 32.28% and a return on equity of 9.30%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Equities research analysts predict that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 13th. Investors of record on Monday, December 29th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, December 29th. CVB Financial’s payout ratio is currently 53.33%.

About CVB Financial

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.