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

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

CVB Financial Stock Up 0.8 %

NASDAQ:CVBF traded up $0.16 during trading hours on Friday, reaching $20.53. 766,875 shares of the company’s stock were exchanged, compared to its average volume of 818,252. CVB Financial has a 1-year low of $15.71 and a 1-year 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. The company has a 50-day moving average of $22.20 and a 200 day moving average of $19.63.

CVB Financial (NASDAQ:CVBF) last posted 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 company had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. Research analysts forecast that CVB Financial will post 1.43 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 3.90%. CVB Financial’s dividend payout ratio is currently 55.94%.

Institutional Trading of CVB Financial

A number of institutional investors have recently added to or reduced their stakes in CVBF. Choreo LLC acquired a new position in CVB Financial during the second quarter worth $382,000. Dimensional Fund Advisors LP grew its stake in CVB Financial by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after acquiring an additional 816,176 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of CVB Financial by 143.4% in the second quarter. Renaissance Technologies LLC now owns 111,694 shares of the financial services provider’s stock valued at $1,926,000 after purchasing an additional 65,800 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in CVB Financial by 5.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 748 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in CVB Financial during the second quarter worth approximately $236,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVBF. Piper Sandler dropped their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Keefe, Bruyette & Woods increased their price target on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wedbush reaffirmed a “neutral” rating and set 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, CVB Financial 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.