Jane Street Group LLC Increases Investment in CVB Financial Corp. (NASDAQ:CVBF)

On December 23, 2024, it was reported that Jane Street Group LLC enhanced its stake in CVB Financial Corp. (NASDAQ:CVBF) by 11.8% during the third quarter of the year. As a result, the institutional investor now owns 136,780 shares of the financial services company after purchasing an additional 14,384 shares during this quarter. At the end of the latest quarter, Jane Street's holdings in CVB Financial were valued at approximately $2,437,000.

Other hedge funds have also adjusted their positions in CVB Financial. For instance, Wellington Management Group LLP acquired a new stake amounting to $8,653,000 during the third quarter. Additionally, American Century Companies Inc. increased its holdings in CVB Financial by 1.0% in the second quarter, owning a total of 5,813,290 shares, valued at roughly $100,221,000 after acquiring another 58,774 shares in the preceding quarter. Citigroup Inc. raised its stake by 9.8% in the third quarter, now owning 264,663 shares worth about $4,716,000 after a purchase of 23,682 shares. Seaside Wealth Management Inc. also bought new shares in CVB Financial in the second quarter, valued at around $1,395,000. Finally, Charles Schwab Investment Management Inc. boosted its stake by 3.8% during the third quarter and now owns shares valued at $88,251,000 after an additional acquisition of 181,769 shares. In total, 74.18% of the stock is currently held by hedge funds and other institutional investors.

Recent Analyst Ratings

Several analysts have recently published reports regarding CVB Financial shares. Piper Sandler has lowered its price target from $25.00 to $23.00 while maintaining an "overweight" rating for the company, as stated in the research note from November 1st. Wedbush reaffirmed a "neutral" rating and set a target price of $20.00 on October 24th. Conversely, Keefe, Bruyette & Woods increased their target price from $23.00 to $27.00 and assigned an "outperform" rating on December 4th. Currently, one analyst has rated the stock as a sell, four provided a hold rating, and two analysts have a buy rating. Overall, MarketBeat's data suggests a consensus rating of "Hold" for CVB Financial, with a consensus target price set at $21.80.

CVB Financial Stock Overview

Shares of CVB Financial (NASDAQ:CVBF) opened at $22.00 recently. The company features a 50-day simple moving average of $21.69 and a 200-day simple moving average of $19.04. Over the past year, the stock has ranged from a low of $15.71 to a high of $24.58. With a market capitalization of $3.07 billion, the company has a price-to-earnings ratio of 15.38 and a beta value of 0.49.

CVB Financial Corp. released its quarterly earnings report on October 23rd, where it reported earnings per share of $0.37, slightly exceeding analysts’ consensus estimates of $0.35 by $0.02. The firm’s return on equity was reported at 9.80%, with a net margin of 28.29%. The total revenue for that quarter was $126.45 million, which fell just short of the $126.75 million estimated by analysts. In comparison, the same quarter from the previous year saw the company earn $0.42 EPS, indicating an 8.2% revenue decline year-over-year. Analysts currently predict that CVB Financial Corp. will report an EPS of 1.43 for the ongoing fiscal year.

Dividend Announcement

Recently, CVB Financial declared a quarterly dividend of $0.20, set to be paid on January 15th, to stockholders who are on record by December 31st. This annualized dividend represents $0.80, equating to a dividend yield of 3.64%. The ex-dividend date is December 31st, with the company currently maintaining a dividend payout ratio of 55.94%.

About CVB Financial

CVB Financial Corp. acts as a bank holding company for Citizens Business Bank, a state-chartered bank dedicated to providing comprehensive banking and financial services tailored to small and mid-sized businesses and individual customers. Its product offerings include checking, savings, money market accounts, and time certificates of deposit for both business and personal banking clients.

Investment, Financial, Stake