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

CVB Financial Corp. (NASDAQ:CVBF) was the target 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 daily trading volume, of 809,700 shares, the short-interest ratio is presently 4.3 days. Approximately 2.7% of the company’s stock are short sold.

CVB Financial Stock Performance

Shares of CVB Financial stock traded down $0.16 during trading on Tuesday, hitting $22.36. 224,240 shares of the stock were exchanged, compared to its average volume of 825,700. The stock’s fifty day moving average is $19.21 and its 200 day moving average is $17.99. The stock has a market cap of $3.12 billion, a PE ratio of 15.66 and a beta of 0.44. CVB Financial has a 12 month low of $15.71 and a 12 month high of $23.43.

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 the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. Sell-side analysts anticipate that CVB Financial will post 1.43 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s payout ratio is currently 55.94%.

Institutional Investors Weigh In On CVB Financial

Several institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in 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 buying an additional 58,774 shares during the period. Dimensional Fund Advisors LP raised 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 period. Geode Capital Management LLC raised its holdings in CVB Financial by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock worth $56,401,000 after buying an additional 15,628 shares during the period. Finally, Sei Investments Co. raised its holdings 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 buying an additional 17,483 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVBF. Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Piper Sandler dropped their price target 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 upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, Stephens lifted their price target on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. 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 currently has an average rating of “Hold” and an average target price of $20.80.

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.