CVB Financial Corp. (NASDAQ:CVBF) Short Interest Up 51.2% in December

CVB Financial Corp. (NASDAQ:CVBF) saw a large increase in short interest during 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. Currently, 4.9% of the company’s stock are short sold. Based on an average daily volume of 815,000 shares, the short-interest ratio is presently 7.8 days.

Hedge Funds Weigh In On CVB Financial

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in 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 worth $1,131,000 after purchasing an additional 9,600 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of CVB Financial in the fourth quarter valued at about $206,000. Diversified Trust Co boosted its stake in shares of 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 buying an additional 5,249 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock worth $6,477,000 after buying an additional 74,004 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of CVB Financial by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,164,463 shares of the financial services provider’s stock worth $56,401,000 after buying an additional 15,628 shares during the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVBF. Keefe, Bruyette & Woods lifted their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler decreased their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.80.

CVB Financial Trading Up 0.8 %

NASDAQ:CVBF traded up $0.16 during midday trading on Friday, hitting $20.53. 766,875 shares of the company were exchanged, compared to its average volume of 818,252. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The company has a market capitalization of $2.87 billion, a PE ratio of 14.36 and a beta of 0.50. The company has a fifty day simple moving average of $22.20 and a 200 day simple moving average of $19.63.

CVB Financial (NASDAQ:CVBF) last posted its earnings results 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 business had revenue of $126.45 million during 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%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities research analysts expect that CVB Financial will post 1.43 EPS for the current year.

CVB Financial Announces Dividend

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

CVB Financial Company 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.