CVB Financial Corp. (NASDAQ:CVBF – Get Free Report) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 6,550,000 shares, an increase of 6.3% from the July 15th total of 6,160,000 shares. Based on an average daily volume of 770,700 shares, the short-interest ratio is presently 8.5 days. Approximately 5.0% of the company’s shares are sold short.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 price target (up from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target on the stock. in a research note on Monday, April 22nd. Stephens lifted their price objective on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Wedbush lifted their price objective on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.00.
Get Our Latest Research Report on CVBF
Insiders Place Their Bets
Institutional Trading of CVB Financial
Several hedge funds and other institutional investors have recently modified their holdings of CVBF. Raymond James & Associates boosted its holdings in shares of CVB Financial by 2.5% during the 4th quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after buying an additional 854 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in CVB Financial by 8.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,791 shares of the financial services provider’s stock valued at $1,571,000 after purchasing an additional 5,867 shares during the period. Cerity Partners LLC grew its position in shares of CVB Financial by 6.7% during the 4th quarter. Cerity Partners LLC now owns 56,144 shares of the financial services provider’s stock worth $1,134,000 after purchasing an additional 3,502 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of CVB Financial during the 4th quarter worth approximately $1,337,000. Finally, Strs Ohio acquired a new position in shares of CVB Financial during the 4th quarter worth approximately $36,000. Institutional investors own 74.18% of the company’s stock.
CVB Financial Trading Up 1.1 %
Shares of CVBF traded up $0.19 during midday trading on Monday, reaching $17.27. The stock had a trading volume of 562,086 shares, compared to its average volume of 828,959. The firm has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $17.11. CVB Financial has a one year low of $14.62 and a one year high of $21.77. The firm has a market cap of $2.41 billion, a PE ratio of 11.24 and a beta of 0.47.
CVB Financial (NASDAQ:CVBF – Get Free Report) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $125.27 million during the quarter, compared to the consensus estimate of $126.86 million. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. CVB Financial’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, research analysts forecast that CVB Financial will post 1.4 EPS for the current fiscal year.
CVB Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Thursday, July 11th. CVB Financial’s payout ratio is 52.63%.
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.
Further Reading
- Five stocks we like better than CVB Financial
- Consumer Discretionary Stocks Explained
- Moderna Dips on Q2 Earnings But Can It Rip on a Short Squeeze?
- Buy P&G Now, Before It Sets A New All-Time High
- 2 Option Strategies to Maximize Profits in a Bear Market
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Lululemon Stock Gears Up for a Massive Comeback Rally
Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.