Short Interest in CVB Financial Corp. (NASDAQ:CVBF) Drops By 12.6%

CVB Financial Corp. (NASDAQ:CVBF) was the target of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 3,040,000 shares, a decline of 12.6% from the January 31st total of 3,480,000 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 805,100 shares, the short-interest ratio is currently 3.8 days.

CVB Financial Price Performance

NASDAQ CVBF traded down $0.14 during trading hours on Thursday, hitting $19.28. The company had a trading volume of 362,604 shares, compared to its average volume of 743,507. The firm’s 50 day moving average is $20.54 and its 200 day moving average is $20.21. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 13.38 and a beta of 0.50. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. On average, equities analysts anticipate that CVB Financial will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is 55.56%.

Institutional Trading of CVB Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in CVB Financial during the 3rd quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. lifted its position in shares of CVB Financial by 80.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider’s stock worth $35,000 after buying an additional 720 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in CVB Financial in the 4th quarter worth approximately $53,000. Sterling Capital Management LLC boosted its holdings in shares of CVB Financial by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 3,719 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 2,597 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVBF has been the topic of a number of recent research reports. Stephens dropped their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.20.

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.