BNP Paribas Financial Markets increased its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 67.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,195 shares of the financial services provider's stock after buying an additional 26,610 shares during the quarter. BNP Paribas Financial Markets' holdings in CVB Financial were worth $1,180,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in CVB Financial in the 3rd quarter worth about $27,000. nVerses Capital LLC increased its holdings in CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,400 shares in the last quarter. Innealta Capital LLC purchased a new stake in CVB Financial in the 2nd quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 780 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in CVB Financial in the 3rd quarter worth approximately $107,000. 74.18% of the stock is owned by hedge funds and other institutional investors.
CVB Financial Stock Up 0.2 %
NASDAQ:CVBF traded up $0.05 during mid-day trading on Tuesday, reaching $23.23. The company's stock had a trading volume of 686,143 shares, compared to its average volume of 824,324. The firm has a market capitalization of $3.24 billion, a PE ratio of 16.24 and a beta of 0.48. The stock has a fifty day moving average of $20.88 and a 200-day moving average of $18.64. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The firm had revenue of $126.45 million for the quarter, compared to the consensus estimate of $126.75 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company's revenue for the quarter was down 8.2% compared to the same quarter last year. On average, analysts expect that CVB Financial Corp. will post 1.43 earnings per share for the current year.
CVB Financial Announces Dividend
The firm also recently announced 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.44%. CVB Financial's dividend payout ratio (DPR) is 55.94%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CVBF. Wedbush reaffirmed a "neutral" rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. 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 report on Wednesday, December 4th. Finally, Piper Sandler lowered their target price on 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 research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, CVB Financial presently has an average rating of "Hold" and a consensus price target of $21.80.
Read Our Latest Stock Analysis on CVB Financial
CVB Financial Company Profile
(
Free Report)
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.
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