Y Intercept Hong Kong Ltd Takes Position in CVB Financial Corp. (NASDAQ:CVBF)

Y Intercept Hong Kong Ltd bought a new position in CVB Financial Corp. (NASDAQ:CVBF) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 33,529 shares of the financial services provider’s stock, valued at approximately $597,000.

A number of other hedge funds also recently bought and sold shares of CVBF. Natixis Advisors LLC boosted its stake in shares of CVB Financial by 2.1% in the 3rd quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 545 shares in the last quarter. Arizona State Retirement System boosted its holdings in CVB Financial by 1.9% in the second quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 725 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of CVB Financial by 5.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 748 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CVB Financial by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 780 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in CVB Financial by 4.7% in the 3rd quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 859 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Trading Down 0.6 %

Shares of CVBF stock opened at $22.71 on Friday. The stock has a market capitalization of $3.17 billion, a P/E ratio of 15.88 and a beta of 0.49. The firm’s 50 day moving average is $21.29 and its 200 day moving average is $18.82. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, topping 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 company had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. CVB Financial’s revenue was down 8.2% compared to the same quarter last year. As a group, equities analysts predict that CVB Financial Corp. will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s payout ratio is currently 55.94%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVBF. Piper Sandler decreased their target price on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company 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. Finally, Keefe, Bruyette & Woods increased their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.