Dark Forest Capital Management LP Increases Position in CVB Financial Corp. (NASDAQ:CVBF)

Dark Forest Capital Management LP increased its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 55.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,327 shares of the financial services provider’s stock after buying an additional 15,735 shares during the quarter. Dark Forest Capital Management LP’s holdings in CVB Financial were worth $764,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its position in CVB Financial by 466.7% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,400 shares during the period. Versant Capital Management Inc raised its stake in shares of CVB Financial by 832.8% during the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,574 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of CVB Financial during the second quarter worth $38,000. Assetmark Inc. grew its position in CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after buying an additional 5,038 shares during the last quarter. Finally, WBI Investments LLC acquired a new position in CVB Financial in the 2nd quarter valued at $177,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVBF. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 target price (up previously from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Stephens increased their price target on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Wedbush lowered their price objective on CVB Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.75.

Insider Activity at CVB Financial

In other CVB Financial news, Director Kimberly H. Sheehy sold 2,961 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the transaction, the director now owns 13,156 shares of the company’s stock, valued at $225,493.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is owned by corporate insiders.

CVB Financial Trading Up 0.6 %

Shares of CVB Financial stock opened at $17.65 on Friday. The company has a 50-day moving average of $17.91 and a two-hundred day moving average of $17.22. CVB Financial Corp. has a 12-month low of $14.62 and a 12-month high of $21.77. The stock has a market cap of $2.46 billion, a PE ratio of 11.68 and a beta of 0.45.

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

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.53%. CVB Financial’s dividend payout ratio is currently 52.63%.

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.