CVB Financial Corp. (NASDAQ:CVBF) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 21.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,367 shares of the financial services provider’s stock after purchasing an additional 780 shares during the period. GAMMA Investing LLC’s holdings in CVB Financial were worth $78,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CVBF. nVerses Capital LLC boosted its holdings in CVB Financial by 466.7% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,400 shares during the last quarter. Versant Capital Management Inc grew its holdings in CVB Financial by 832.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,574 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of CVB Financial in the 2nd quarter worth about $38,000. SG Americas Securities LLC acquired a new stake in shares of CVB Financial in the 3rd quarter valued at about $107,000. Finally, WBI Investments LLC bought a new position in shares of CVB Financial during the second quarter worth about $177,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVBF. Wedbush cut their price objective on CVB Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Finally, Stephens boosted their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.25.

CVB Financial Stock Performance

Shares of CVBF opened at $19.41 on Wednesday. The firm has a fifty day moving average of $17.71 and a 200-day moving average of $17.32. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 12.77 and a beta of 0.45. CVB Financial Corp. has a 1 year low of $14.62 and a 1 year high of $21.77.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The firm had revenue of $125.27 million during the quarter, compared to analyst estimates of $126.86 million. During the same period in the previous year, the business posted $0.40 EPS. CVB Financial’s revenue was down 5.2% on a year-over-year basis. Analysts predict that CVB Financial Corp. will post 1.4 EPS for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s payout ratio is currently 52.63%.

CVB Financial 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.