Barclays PLC Purchases 128,869 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Barclays PLC increased its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 79.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 291,011 shares of the financial services provider's stock after purchasing an additional 128,869 shares during the period. Barclays PLC owned about 0.21% of CVB Financial worth $5,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CVBF. Y Intercept Hong Kong Ltd acquired a new stake in shares of CVB Financial during the third quarter worth approximately $597,000. Jane Street Group LLC increased its stake in shares of CVB Financial by 11.8% in the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider's stock worth $2,437,000 after acquiring an additional 14,384 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of CVB Financial during the third quarter worth $8,653,000. Jacobs Asset Management LLC acquired a new stake in CVB Financial during the third quarter valued at $4,455,000. Finally, Holocene Advisors LP grew its stake in CVB Financial by 167.1% in the third quarter. Holocene Advisors LP now owns 79,844 shares of the financial services provider's stock valued at $1,423,000 after purchasing an additional 49,953 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company's stock.

CVB Financial Stock Up 3.3 %

CVBF stock traded up $0.71 during mid-day trading on Friday, reaching $22.00. 3,325,808 shares of the stock traded hands, compared to its average volume of 839,413. The firm has a market capitalization of $3.07 billion, a PE ratio of 15.38 and a beta of 0.49. The business has a 50-day moving average of $21.69 and a two-hundred day moving average of $19.00. CVB Financial Corp. has a 52 week low of $15.71 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $126.75 million. During the same quarter last year, the firm posted $0.42 EPS. The company's revenue was down 8.2% on a year-over-year basis. On average, equities research analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.64%. The ex-dividend date is Tuesday, December 31st. CVB Financial's payout ratio is currently 55.94%.

Wall Street Analysts Forecast Growth

CVBF has been the subject of a number of recent research reports. Wedbush reaffirmed a "neutral" rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, 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 research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, CVB Financial currently has a consensus rating of "Hold" and an average price target of $21.80.

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.