Jacobs Asset Management LLC Invests $1.01 Million in CVB Financial Corporation $CVBF

Jacobs Asset Management LLC purchased a new position in CVB Financial Corporation (NASDAQ:CVBF – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 54,529 shares of the financial services provider’s stock, valued at approximately $1,014,000.

A number of other hedge funds have also modified their holdings of CVBF. HoldCo Asset Management LP increased its stake in shares of CVB Financial by 17,051.0% in the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after acquiring an additional 2,211,005 shares during the last quarter. Clifford Capital Partners LLC increased its stake in shares of CVB Financial by 3,800.6% in the third quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock worth $12,581,000 after acquiring an additional 648,229 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of CVB Financial in the second quarter worth $5,636,000. Jane Street Group LLC acquired a new position in shares of CVB Financial in the first quarter worth $4,461,000. Finally, Citadel Advisors LLC increased its stake in shares of CVB Financial by 866.6% in the third quarter. Citadel Advisors LLC now owns 228,122 shares of the financial services provider’s stock worth $4,314,000 after acquiring an additional 204,522 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

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CVB Financial Stock Up 1.5%

CVBF stock opened at $21.23 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $21.48. The company has a 50-day moving average of $20.31 and a two-hundred day moving average of $19.90. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 13.97 and a beta of 0.66.

CVB Financial (NASDAQ:CVBF – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. The company had revenue of $132.12 million during the quarter, compared to analysts’ expectations of $162.29 million. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, equities research analysts anticipate that CVB Financial Corporation will post 1.56 EPS for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Wednesday, April 1st. CVB Financial’s dividend payout ratio is 52.63%.

Insider Buying and Selling at CVB Financial

In related news, Director George A. Borba, Jr. bought 25,187 shares of CVB Financial stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $19.85 per share, for a total transaction of $499,961.95. Following the completion of the purchase, the director owned 846,308 shares in the company, valued at approximately $16,799,213.80. This represents a 3.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

View Our Latest Stock Analysis on CVB Financial

CVB Financial Company Profile

(Free Report)

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.

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