Barclays PLC Boosts Stake in CVB Financial Corp. (NASDAQ:CVBF)

Barclays PLC boosted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 79.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 291,011 shares of the financial services provider’s stock after purchasing an additional 128,869 shares during the period. Barclays PLC’s holdings in CVB Financial were worth $5,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of CVB Financial in the third quarter valued at $27,000. nVerses Capital LLC grew its position in CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,400 shares in the last quarter. Innealta Capital LLC purchased a new stake in CVB Financial during the second quarter worth about $38,000. GAMMA Investing LLC lifted its position in shares of CVB Financial by 21.7% during the third quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 780 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of CVB Financial in the third quarter valued at approximately $107,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CVBF shares. Keefe, Bruyette & Woods upped their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. 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. Finally, Piper Sandler decreased their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, CVB Financial presently has an average rating of “Hold” and a consensus target price of $21.80.

CVB Financial Price Performance

NASDAQ CVBF opened at $22.00 on Friday. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 15.38 and a beta of 0.49. The firm’s fifty day moving average price is $21.69 and its 200 day moving average price is $19.00.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $126.45 million for 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 business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, sell-side analysts forecast that CVB Financial Corp. will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, December 31st. CVB Financial’s payout ratio is currently 55.94%.

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.