CVB Financial Corp. (NASDAQ:CVBF) Short Interest Update

CVB Financial Corp. (NASDAQ:CVBF) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 6,380,000 shares, an increase of 51.2% from the December 15th total of 4,220,000 shares. Approximately 4.9% of the shares of the company are sold short. Based on an average daily volume of 815,000 shares, the short-interest ratio is presently 7.8 days.

Institutional Trading of CVB Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in shares of CVB Financial by 22.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock valued at $1,131,000 after acquiring an additional 9,600 shares during the period. Crossmark Global Holdings Inc. acquired a new position in CVB Financial during the fourth quarter worth $206,000. Diversified Trust Co boosted its position in CVB Financial by 11.9% during the fourth quarter. Diversified Trust Co now owns 49,520 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 5,249 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CVB Financial by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock valued at $6,477,000 after purchasing an additional 74,004 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of CVB Financial by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock valued at $56,401,000 after buying an additional 15,628 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Performance

NASDAQ:CVBF traded up $0.16 during mid-day trading on Friday, reaching $20.53. The stock had a trading volume of 766,875 shares, compared to its average volume of 818,252. The business has a 50 day simple moving average of $22.20 and a 200 day simple moving average of $19.63. CVB Financial has a twelve month low of $15.71 and a twelve month high of $24.58. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 14.36 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.80% and a net margin of 28.29%. CVB Financial’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. As a group, sell-side analysts expect that CVB Financial will post 1.43 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.90%. CVB Financial’s dividend payout ratio is presently 55.94%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVBF. Keefe, Bruyette & Woods upped their target price 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 price objective 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. Finally, 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, CVB Financial currently has an average rating of “Hold” and a consensus price target of $21.80.

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.