CVB Financial Corp. (NASDAQ:CVBF) Sees Large Decline in Short Interest

CVB Financial Corp. (NASDAQ:CVBF) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,860,000 shares, a decrease of 7.6% from the September 30th total of 5,260,000 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average trading volume of 727,800 shares, the days-to-cover ratio is currently 6.7 days.

In other news, CEO Christopher D. Myers sold 16,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $21.16, for a total transaction of $349,140.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc purchased a new position in CVB Financial in the second quarter valued at $32,000. CWM Advisors LLC purchased a new position in CVB Financial in the second quarter valued at $212,000. Strs Ohio increased its holdings in CVB Financial by 142.2% in the second quarter. Strs Ohio now owns 10,900 shares of the financial services provider’s stock valued at $229,000 after buying an additional 6,400 shares during the last quarter. CIBC Asset Management Inc purchased a new position in CVB Financial in the third quarter valued at $234,000. Finally, Tower Research Capital LLC TRC increased its holdings in CVB Financial by 13,673.4% in the second quarter. Tower Research Capital LLC TRC now owns 12,947 shares of the financial services provider’s stock valued at $273,000 after buying an additional 12,853 shares during the last quarter. 67.11% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CVBF opened at $21.21 on Tuesday. The firm has a market capitalization of $2.99 billion, a PE ratio of 17.10 and a beta of 1.05. The business’s fifty day moving average price is $20.90 and its 200 day moving average price is $21.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.86 and a quick ratio of 0.86. CVB Financial has a 12 month low of $19.21 and a 12 month high of $23.51.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $122.35 million. CVB Financial had a net margin of 38.37% and a return on equity of 10.45%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. As a group, equities analysts anticipate that CVB Financial will post 1.46 EPS for the current year.

A number of analysts have recently weighed in on CVBF shares. ValuEngine raised CVB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. BidaskClub lowered CVB Financial from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Zacks Investment Research lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $23.33.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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