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

CVB Financial Corp. (NASDAQ:CVBF) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,500,000 shares, a growth of 6.4% from the October 15th total of 3,290,000 shares. Based on an average daily volume of 809,700 shares, the short-interest ratio is currently 4.3 days. Approximately 2.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler dropped their target price 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 issued a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Stephens increased their price objective on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.80.

Institutional Investors Weigh In On CVB Financial

A number of large investors have recently added to or reduced their stakes in CVBF. Allspring Global Investments Holdings LLC bought a new stake in shares of CVB Financial in the third quarter valued at approximately $27,000. nVerses Capital LLC lifted its position in CVB Financial by 466.7% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,400 shares during the period. Versant Capital Management Inc raised its stake in CVB Financial by 832.8% during the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,574 shares in the last quarter. Innealta Capital LLC acquired a new position in CVB Financial during the second quarter worth $38,000. Finally, GAMMA Investing LLC increased its stake in shares of CVB Financial by 21.7% in the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock valued at $78,000 after buying an additional 780 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Trading Down 0.7 %

CVB Financial stock traded down $0.16 during trading hours on Tuesday, reaching $22.36. 224,240 shares of the company were exchanged, compared to its average volume of 825,700. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 15.66 and a beta of 0.44. The stock has a 50-day moving average of $19.21 and a 200 day moving average of $17.99. CVB Financial has a 12 month low of $15.71 and a 12 month high of $23.43.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, research analysts forecast that CVB Financial will post 1.43 EPS for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were given a dividend of $0.20 per share. 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 3.58%. CVB Financial’s payout ratio is currently 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.