Jacobs Asset Management LLC Makes New Investment in CVB Financial Corp. (NASDAQ:CVBF)

Jacobs Asset Management LLC purchased a new stake in shares of CVB Financial Corp. (NASDAQ:CVBF) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 250,000 shares of the financial services provider’s stock, valued at approximately $4,455,000. CVB Financial comprises approximately 2.9% of Jacobs Asset Management LLC’s portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of CVB Financial by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after purchasing an additional 58,774 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in CVB Financial by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock worth $97,399,000 after buying an additional 816,176 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CVB Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after buying an additional 181,769 shares during the last quarter. Sei Investments Co. lifted its position in CVB Financial by 2.9% during the 2nd quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider’s stock worth $10,843,000 after acquiring an additional 17,483 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in CVB Financial by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 291,836 shares of the financial services provider’s stock valued at $5,031,000 after buying an additional 20,498 shares in the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Trading Down 0.5 %

NASDAQ:CVBF opened at $23.31 on Tuesday. The company has a market capitalization of $3.26 billion, a P/E ratio of 16.30 and a beta of 0.48. The business’s 50-day moving average is $20.33 and its 200 day moving average is $18.42. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, research analysts forecast that CVB Financial Corp. will post 1.43 earnings per share for the current 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 issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.43%. CVB Financial’s dividend payout ratio (DPR) is 55.94%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised CVB Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Finally, Piper Sandler reduced their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.80.

CVB Financial 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.