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

CVB Financial Corp. (NASDAQ:CVBF) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 6,380,000 shares, a growth of 51.2% from the December 15th total of 4,220,000 shares. Based on an average daily volume of 815,000 shares, the short-interest ratio is presently 7.8 days. Approximately 4.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors have recently bought and sold shares of CVBF. Dimensional Fund Advisors LP boosted its holdings in shares of CVB Financial by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after purchasing an additional 816,176 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CVB Financial by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after acquiring an additional 181,769 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CVB Financial by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after acquiring an additional 15,628 shares during the last quarter. Sei Investments Co. grew its position in CVB Financial by 2.9% during the second quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider’s stock valued at $10,843,000 after acquiring an additional 17,483 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in CVB Financial during the third quarter worth about $8,653,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Price Performance

CVBF traded up $0.16 during trading on Friday, hitting $20.53. The company’s stock had a trading volume of 766,875 shares, compared to its average volume of 818,252. CVB Financial has a twelve month low of $15.71 and a twelve month high of $24.58. The stock has a market cap of $2.87 billion, a PE ratio of 14.36 and a beta of 0.50. The firm’s 50 day moving average price is $22.20 and its 200-day moving average price is $19.63.

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

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.90%. CVB Financial’s payout ratio is currently 55.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Keefe, Bruyette & Woods raised their price target on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, CVB Financial currently has a consensus rating of “Hold” and an average price target of $21.80.

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.