Y Intercept Hong Kong Ltd Takes $597,000 Position in CVB Financial Corp. (NASDAQ:CVBF)

Y Intercept Hong Kong Ltd purchased a new stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 33,529 shares of the financial services provider's stock, valued at approximately $597,000.

A number of other large investors have also bought and sold shares of the business. Natixis Advisors LLC raised its stake in shares of CVB Financial by 2.1% in the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider's stock worth $474,000 after acquiring an additional 545 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of CVB Financial by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 39,018 shares of the financial services provider's stock valued at $673,000 after acquiring an additional 725 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of CVB Financial by 5.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider's stock valued at $250,000 after acquiring an additional 748 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 780 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of CVB Financial by 4.7% in the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider's stock valued at $342,000 after purchasing an additional 859 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CVBF. Keefe, Bruyette & Woods boosted their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler reduced 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. Finally, Wedbush reaffirmed a "neutral" rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. 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 stock. Based on data from MarketBeat, CVB Financial currently has an average rating of "Hold" and a consensus price target of $21.80.

CVB Financial Trading Down 0.6 %

NASDAQ CVBF traded down $0.13 during trading hours on Friday, hitting $22.71. 703,509 shares of the company's stock were exchanged, compared to its average volume of 824,267. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58. The stock has a 50-day simple moving average of $21.29 and a 200 day simple moving average of $18.82. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 15.88 and a beta of 0.49.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data 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 for 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 business's quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts anticipate that CVB Financial Corp. will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.52%. CVB Financial's dividend payout ratio (DPR) is presently 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.