Short Interest in CVB Financial Corp. (NASDAQ:CVBF) Rises By 6.4%

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 3,500,000 shares, a growth of 6.4% from the October 15th total of 3,290,000 shares. Currently, 2.7% of the company's stock are sold short. Based on an average trading volume of 809,700 shares, the short-interest ratio is presently 4.3 days.

Hedge Funds Weigh In On CVB Financial

Several large investors have recently modified their holdings of CVBF. Bessemer Group Inc. raised its position in CVB Financial by 7.3% during the 1st quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider's stock worth $9,629,000 after purchasing an additional 36,894 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of CVB Financial by 1.0% in the second quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider's stock worth $100,221,000 after acquiring an additional 58,774 shares during the period. Seaside Wealth Management Inc. bought a new stake in CVB Financial in the second quarter valued at approximately $1,395,000. Price T Rowe Associates Inc. MD increased its position in CVB Financial by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,803 shares of the financial services provider's stock valued at $1,888,000 after purchasing an additional 4,744 shares during the period. Finally, GAMMA Investing LLC raised 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 worth $78,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 74.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wedbush restated a "neutral" rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Piper Sandler reduced their price target 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. Stephens upped their price objective on CVB Financial from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised CVB Financial from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.80.

CVB Financial Stock Performance

Shares of CVBF traded down $0.13 during mid-day trading on Tuesday, reaching $22.39. The company had a trading volume of 212,452 shares, compared to its average volume of 825,647. The company's 50 day simple moving average is $19.21 and its 200 day simple moving average is $17.99. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 15.75 and a beta of 0.44. CVB Financial has a 1-year low of $15.71 and a 1-year high of $23.43.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its 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. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The business had revenue of $126.45 million during the quarter, compared to analysts' expectations of $126.75 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business's revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities analysts forecast that CVB Financial will post 1.43 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Monday, September 30th. CVB Financial's payout ratio is 55.94%.

About CVB Financial

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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