Quantbot Technologies LP Grows Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Quantbot Technologies LP grew its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 317.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,267 shares of the financial services provider's stock after purchasing an additional 62,562 shares during the period. Quantbot Technologies LP owned approximately 0.06% of CVB Financial worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVBF. Allspring Global Investments Holdings LLC purchased a new stake in CVB Financial in the third quarter valued at approximately $27,000. nVerses Capital LLC boosted its holdings in shares of CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 1,400 shares during the last quarter. Versant Capital Management Inc increased its stake 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 worth $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 worth $38,000. Finally, GAMMA Investing LLC raised its holdings 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 purchasing an additional 780 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Stock Down 1.7 %

Shares of CVBF stock traded down $0.41 during mid-day trading on Friday, hitting $23.42. 703,774 shares of the stock were exchanged, compared to its average volume of 827,073. CVB Financial Corp. has a 52-week low of $15.71 and a 52-week high of $24.58. The company has a market cap of $3.27 billion, a PE ratio of 16.38 and a beta of 0.44. The firm has a fifty day moving average of $20.23 and a 200 day moving average of $18.37.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $126.45 million for the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. CVB Financial's revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 earnings per share. Equities analysts predict that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.42%. CVB Financial's dividend payout ratio is currently 55.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVBF shares. Keefe, Bruyette & Woods raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and upped their price target for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush restated 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 dropped their target price on CVB Financial from $25.00 to $23.00 and set an "overweight" rating on the stock in a 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 stock. Based on data from MarketBeat, CVB Financial has an average rating of "Hold" and an average price target of $20.80.

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.