AlphaCrest Capital Management LLC Invests $495,000 in CVB Financial Corp. (NASDAQ:CVBF)

Posted by on Mar 10th, 2023

AlphaCrest Capital Management LLC acquired a new position in CVB Financial Corp. (NASDAQ:CVBF – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,560 shares of the financial services provider’s stock, valued at approximately $495,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of CVB Financial by 277.7% in the third quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,116 shares in the last quarter. Eaton Vance Management grew its stake in CVB Financial by 2.8% during the third quarter. Eaton Vance Management now owns 2,205,547 shares of the financial services provider’s stock valued at $55,844,000 after acquiring an additional 60,887 shares in the last quarter. Tudor Investment Corp Et Al purchased a new position in CVB Financial during the third quarter valued at $1,198,000. Cubist Systematic Strategies LLC grew its stake in CVB Financial by 69.1% during the third quarter. Cubist Systematic Strategies LLC now owns 60,098 shares of the financial services provider’s stock valued at $1,522,000 after acquiring an additional 24,550 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in CVB Financial by 15.2% during the third quarter. Guggenheim Capital LLC now owns 26,038 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 3,438 shares in the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

CVBF opened at $21.45 on Friday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 12.92 and a beta of 0.41. The company has a fifty day moving average of $24.50 and a 200 day moving average of $26.07. CVB Financial Corp. has a fifty-two week low of $21.41 and a fifty-two week high of $29.25.

CVB Financial (NASDAQ:CVBF – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. CVB Financial had a net margin of 41.69% and a return on equity of 11.94%. The business had revenue of $149.86 million during the quarter, compared to analyst estimates of $147.82 million. During the same quarter last year, the business earned $0.35 earnings per share. CVB Financial’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts forecast that CVB Financial Corp. will post 1.86 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Thursday, December 29th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, December 28th. This represents a $0.80 annualized dividend and a yield of 3.73%. CVB Financial’s dividend payout ratio (DPR) is currently 48.19%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Monday.

CVB Financial Company Profile

(Get Rating)

CVB Financial Corp. is a bank holding company, which engages in the provision of relationship-based banking products, services, and solutions for small to mid-sized companies, real estate investors, non-profit organizations, professionals, and other individuals through its subsidiary, Citizens Business Bank.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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