Boothbay Fund Management LLC Makes New $5.82 Million Investment in CVB Financial Corp. (NASDAQ:CVBF)

Boothbay Fund Management LLC purchased a new position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 271,786 shares of the financial services provider's stock, valued at approximately $5,819,000. Boothbay Fund Management LLC owned about 0.19% of CVB Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nomura Asset Management Co. Ltd. lifted its stake in shares of CVB Financial by 80.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 720 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in CVB Financial by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,861 shares of the financial services provider's stock worth $297,000 after acquiring an additional 880 shares during the period. Blue Trust Inc. raised its holdings in CVB Financial by 17.7% in the 4th quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider's stock worth $131,000 after acquiring an additional 918 shares during the period. Pictet Asset Management Holding SA raised its holdings in CVB Financial by 5.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 19,475 shares of the financial services provider's stock worth $417,000 after acquiring an additional 1,054 shares during the period. Finally, KBC Group NV raised its holdings in CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after acquiring an additional 1,556 shares during the period. Institutional investors own 74.18% of the company's stock.

Wall Street Analyst Weigh In

CVBF has been the topic of several research reports. Piper Sandler dropped their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday. Stephens reduced their price target on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $23.50.

CVB Financial Stock Performance

CVBF stock traded down $0.24 during midday trading on Wednesday, hitting $18.54. 679,433 shares of the company's stock were exchanged, compared to its average volume of 809,566. The company has a market cap of $2.58 billion, a PE ratio of 12.88 and a beta of 0.62. The stock's fifty day moving average price is $18.44 and its 200-day moving average price is $20.29. CVB Financial Corp. has a one year low of $15.75 and a one year high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $126.67 million for the quarter, compared to analyst estimates of $124.45 million. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. During the same period in the previous year, the company posted $0.35 earnings per share. On average, analysts expect that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Wednesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

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.