CVB Financial Corp. (NASDAQ:CVBF) Short Interest Update

CVB Financial Corp. (NASDAQ:CVBF) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 3,500,000 shares, an increase of 6.4% from the October 15th total of 3,290,000 shares. Based on an average trading volume of 809,700 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

CVBF has been the topic of several recent research reports. Piper Sandler decreased their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised CVB Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $20.00 to $22.00 in a research report on Wednesday, October 2nd. Finally, Stephens raised their price objective on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, CVB Financial currently has an average rating of “Hold” and a consensus target price of $20.80.

Institutional Trading of CVB Financial

Several hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. grew its stake in CVB Financial by 7.3% during the 1st quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock worth $9,629,000 after purchasing an additional 36,894 shares in the last quarter. American Century Companies Inc. increased its holdings in CVB Financial by 1.0% in the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock valued at $100,221,000 after buying an additional 58,774 shares during the last quarter. Seaside Wealth Management Inc. acquired a new stake in CVB Financial in the second quarter valued at $1,395,000. Price T Rowe Associates Inc. MD lifted its holdings in CVB Financial by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,803 shares of the financial services provider’s stock worth $1,888,000 after buying an additional 4,744 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 780 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Down 0.5 %

CVB Financial stock traded down $0.11 during mid-day trading on Tuesday, hitting $22.41. The company’s stock had a trading volume of 255,854 shares, compared to its average volume of 825,782. CVB Financial has a 1 year low of $15.71 and a 1 year high of $23.43. The firm has a market capitalization of $3.13 billion, a PE ratio of 15.66 and a beta of 0.44. The stock’s fifty day moving average is $19.21 and its two-hundred day moving average is $17.99.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The company had revenue of $126.45 million for the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. CVB Financial’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities analysts expect that CVB Financial will post 1.43 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Monday, September 30th. CVB Financial’s payout ratio is 55.94%.

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.