Holocene Advisors LP Acquires 49,953 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Holocene Advisors LP grew its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 167.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,844 shares of the financial services provider's stock after acquiring an additional 49,953 shares during the quarter. Holocene Advisors LP owned 0.06% of CVB Financial worth $1,423,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in CVB Financial in the 3rd quarter worth $27,000. nVerses Capital LLC increased its holdings in shares of CVB Financial by 466.7% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider's stock worth $29,000 after buying an additional 1,400 shares during the period. Innealta Capital LLC bought a new stake in shares of CVB Financial in the 2nd quarter valued at about $38,000. GAMMA Investing LLC boosted its holdings in CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 780 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in CVB Financial during the 3rd quarter valued at about $107,000. 74.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVBF. Wedbush reiterated a "neutral" rating and issued a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. Piper Sandler decreased their target price on shares of CVB Financial from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods increased their price target on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, CVB Financial has a consensus rating of "Hold" and an average price target of $21.80.

CVB Financial Stock Performance

Shares of CVB Financial stock traded up $0.27 during midday trading on Friday, reaching $23.25. 577,206 shares of the company's stock traded hands, compared to its average volume of 783,292. The stock has a 50 day moving average of $20.77 and a 200-day moving average of $18.58. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The company has a market cap of $3.25 billion, a PE ratio of 16.26 and a beta of 0.49.

CVB Financial (NASDAQ:CVBF - Get Free Report) 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. The business had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The company's revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, equities analysts anticipate that CVB Financial Corp. will post 1.43 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders 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 annualized dividend and a yield of 3.44%. CVB Financial's payout ratio is 55.94%.

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.