Jane Street Group LLC Acquires 14,384 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Jane Street Group LLC boosted its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,780 shares of the financial services provider’s stock after acquiring an additional 14,384 shares during the quarter. Jane Street Group LLC owned 0.10% of CVB Financial worth $2,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of CVB Financial in the third quarter worth approximately $8,653,000. American Century Companies Inc. lifted its holdings in shares of CVB Financial by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock worth $100,221,000 after acquiring an additional 58,774 shares during the last quarter. Citigroup Inc. grew its position in CVB Financial by 9.8% in the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock worth $4,716,000 after acquiring an additional 23,682 shares in the last quarter. Seaside Wealth Management Inc. bought a new position in CVB Financial in the second quarter valued at $1,395,000. Finally, Charles Schwab Investment Management Inc. raised its position in CVB Financial by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock valued at $88,251,000 after purchasing an additional 181,769 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVBF has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler cut their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Wedbush reissued a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CVB Financial presently has a consensus rating of “Hold” and a consensus price target of $21.80.

CVB Financial Price Performance

Shares of CVBF stock opened at $22.00 on Monday. The business has a 50-day moving average of $21.69 and a 200 day moving average of $19.04. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58. The stock has a market capitalization of $3.07 billion, a PE ratio of 15.38 and a beta of 0.49.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The firm had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. Analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Tuesday, December 31st. CVB Financial’s dividend payout ratio (DPR) is presently 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.