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

Boothbay Fund Management LLC bought a new position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 271,786 shares of the financial services provider's stock, valued at approximately $5,819,000. Boothbay Fund Management LLC owned 0.19% of CVB Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVBF. Dimensional Fund Advisors LP raised its position in CVB Financial by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,405 shares of the financial services provider's stock worth $136,116,000 after acquiring an additional 162,422 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of CVB Financial by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,156,518 shares of the financial services provider's stock worth $110,401,000 after purchasing an additional 204,164 shares during the period. Capital Research Global Investors purchased a new position in CVB Financial in the fourth quarter valued at approximately $94,382,000. Fuller & Thaler Asset Management Inc. grew its holdings in CVB Financial by 15.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider's stock valued at $49,979,000 after purchasing an additional 317,418 shares during the period. Finally, Victory Capital Management Inc. increased its position in CVB Financial by 210.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock worth $31,858,000 after buying an additional 1,009,146 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Price Performance

NASDAQ CVBF traded up $0.33 during trading hours on Friday, reaching $19.08. 240,623 shares of the stock traded hands, compared to its average volume of 805,950. The stock has a 50 day simple moving average of $18.40 and a two-hundred day simple moving average of $20.27. CVB Financial Corp. has a 1 year low of $15.75 and a 1 year high of $24.58. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 13.24 and a beta of 0.62.

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

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's payout ratio is presently 55.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stephens lowered their price objective on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Piper Sandler cut their price objective on CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, CVB Financial has a consensus rating of "Hold" and an average target price of $23.50.

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.