Jacobs Asset Management LLC Buys New Shares in CVB Financial Corporation $CVBF

Jacobs Asset Management LLC purchased a new position in CVB Financial Corporation (NASDAQ:CVBF) in the 4th quarter, according to the company in its most recent Form 13F filing 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of CVB Financial by 24.2% during the fourth quarter. Barclays PLC now owns 242,870 shares of the financial services provider’s stock worth $4,517,000 after buying an additional 47,283 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of CVB Financial in the fourth quarter valued at approximately $42,000. Marshall Wace LLP acquired a new stake in shares of CVB Financial in the fourth quarter valued at approximately $3,092,000. First Trust Advisors LP increased its holdings in shares of CVB Financial by 1.3% in the fourth quarter. First Trust Advisors LP now owns 429,561 shares of the financial services provider’s stock valued at $7,990,000 after purchasing an additional 5,536 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of CVB Financial by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock valued at $102,092,000 after purchasing an additional 67,563 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a report 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 assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Insider Buying and Selling

In related news, Director George A. Borba, Jr. acquired 25,187 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $19.85 per share, with a total value of $499,961.95. Following the transaction, the director owned 846,308 shares of the company’s stock, valued at $16,799,213.80. The trade was a 3.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

CVB Financial Trading Up 1.5%

Shares of NASDAQ CVBF opened at $21.23 on Friday. The company’s fifty day moving average is $20.31 and its 200-day moving average is $19.90. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 13.97 and a beta of 0.66. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $21.48. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The company had revenue of $132.12 million for the quarter, compared to analysts’ expectations of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. During the same period last year, the firm posted $0.36 earnings per share. Equities research analysts predict that CVB Financial Corporation will post 1.56 EPS for the current year.

CVB Financial Dividend Announcement

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

CVB Financial Company Profile

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.