Citigroup Inc. lifted its stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,663 shares of the financial services provider's stock after buying an additional 23,682 shares during the period. Citigroup Inc. owned approximately 0.19% of CVB Financial worth $4,716,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of CVB Financial during the third quarter worth about $27,000. nVerses Capital LLC lifted its stake 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 valued at $29,000 after buying an additional 1,400 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of CVB Financial by 832.8% in the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 1,574 shares during the period. Innealta Capital LLC acquired a new stake in shares of CVB Financial in the second quarter valued at approximately $38,000. Finally, GAMMA Investing LLC grew its position in shares of CVB Financial by 21.7% during the third 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 during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on CVBF shares. Keefe, Bruyette & Woods upgraded shares of CVB Financial from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Wedbush reiterated a "neutral" rating and issued a $20.00 target price on shares of CVB Financial in a research note on Thursday, October 24th. Finally, Piper Sandler cut their price target on CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, CVB Financial has a consensus rating of "Hold" and a consensus target price of $20.80.
Check Out Our Latest Research Report on CVB Financial
CVB Financial Stock Performance
CVBF stock traded down $0.34 during midday trading on Tuesday, hitting $22.97. 796,125 shares of the stock were exchanged, compared to its average volume of 827,488. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 16.06 and a beta of 0.49. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The stock's 50-day moving average price is $20.43 and its 200-day moving average price is $18.46.
CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm 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 firm's revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. Research analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current year.
CVB Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.48%. CVB Financial's dividend payout ratio is currently 55.94%.
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.
Featured Articles
Before you consider CVB Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVB Financial wasn't on the list.
While CVB Financial currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
