CVB Financial Corp. (NASDAQ:CVBF) Short Interest Down 12.6% in February

CVB Financial Corp. (NASDAQ:CVBF) was the recipient 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 company’s shares are short sold. Based on an average daily volume of 805,100 shares, the days-to-cover ratio is presently 3.8 days.

Analyst Ratings Changes

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

CVB Financial Price Performance

Shares of CVBF stock opened at $19.36 on Friday. The stock has a market cap of $2.70 billion, a PE ratio of 13.44 and a beta of 0.50. The stock has a 50-day moving average of $20.49 and a 200-day moving average of $20.21. CVB Financial has a one year low of $15.71 and a one year high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, research analysts anticipate that CVB Financial will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 4.13%. CVB Financial’s payout ratio is 55.56%.

Institutional Trading of CVB Financial

A number of large investors have recently bought and sold shares of CVBF. Capital Research Global Investors bought a new stake in CVB Financial during the 4th quarter worth approximately $94,382,000. Massachusetts Financial Services Co. MA acquired a new position in CVB Financial during the 4th quarter worth approximately $31,064,000. Norges Bank acquired a new position in CVB Financial during the 4th quarter worth approximately $27,724,000. Victory Capital Management Inc. boosted its position in CVB Financial by 210.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider’s stock worth $31,858,000 after acquiring an additional 1,009,146 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in CVB Financial during the 3rd quarter worth approximately $8,653,000. 74.18% of the stock is owned by institutional investors.

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.