BNP Paribas Financial Markets Grows Stake in CVB Financial Corp. (NASDAQ:CVBF)

BNP Paribas Financial Markets boosted its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 67.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,195 shares of the financial services provider’s stock after acquiring an additional 26,610 shares during the quarter. BNP Paribas Financial Markets’ holdings in CVB Financial were worth $1,180,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVBF. Dimensional Fund Advisors LP grew its stake in shares of CVB Financial by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after purchasing an additional 816,176 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CVB Financial by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after acquiring an additional 181,769 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of CVB Financial by 87.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock worth $3,798,000 after acquiring an additional 99,554 shares during the last quarter. Inspire Advisors LLC bought a new stake in shares of CVB Financial during the 2nd quarter valued at $1,474,000. Finally, Seaside Wealth Management Inc. purchased a new stake in shares of CVB Financial in the 2nd quarter worth $1,395,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Trading Down 0.3 %

Shares of CVBF opened at $23.18 on Tuesday. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The company has a market capitalization of $3.24 billion, a PE ratio of 16.21 and a beta of 0.48. The business’s 50 day moving average is $20.88 and its 200 day moving average is $18.64.

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

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is presently 55.94%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVBF. Keefe, Bruyette & Woods boosted their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler cut their price objective 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 issued a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, CVB Financial has a consensus rating of “Hold” and a consensus price target of $21.80.

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.