Weiss Asset Management LP Purchases Shares of 428,200 CVB Financial Corporation $CVBF

Weiss Asset Management LP acquired a new stake in shares of CVB Financial Corporation (NASDAQ:CVBF) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 428,200 shares of the financial services provider’s stock, valued at approximately $8,303,000.

Several other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in shares of CVB Financial in the 1st quarter valued at about $1,096,000. Bessemer Group Inc. raised its holdings in CVB Financial by 34.1% in the first quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider’s stock valued at $28,439,000 after buying an additional 372,732 shares during the period. Tudor Investment Corp ET AL lifted its position in CVB Financial by 139.4% during the third quarter. Tudor Investment Corp ET AL now owns 101,128 shares of the financial services provider’s stock valued at $1,912,000 after buying an additional 58,882 shares in the last quarter. Bernzott Capital Advisors acquired a new position in CVB Financial during the first quarter valued at approximately $8,054,000. Finally, UBS Group AG grew its stake in CVB Financial by 25.2% during the fourth quarter. UBS Group AG now owns 161,339 shares of the financial services provider’s stock worth $3,001,000 after buying an additional 32,499 shares during the period. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Stephens reiterated an “equal weight” rating and issued a $23.00 price target on shares of CVB Financial in a report on Tuesday, June 16th. Piper Sandler raised their price objective on CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.38.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. bought 50,242 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the purchase, the director directly owned 796,024 shares of the company’s stock, valued at approximately $15,840,877.60. The trade was a 6.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.

CVB Financial Trading Up 0.9%

NASDAQ CVBF opened at $22.56 on Friday. The company’s fifty day simple moving average is $21.49 and its 200-day simple moving average is $20.43. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $23.36. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.98 billion, a P/E ratio of 15.56 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same period in the previous year, the business posted $0.36 earnings per share. Equities research analysts predict that CVB Financial Corporation will post 1.66 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial’s dividend payout ratio is presently 55.17%.

Trending Headlines about CVB Financial

Here are the key news stories impacting CVB Financial this week:

• Positive Sentiment: CVB Financial reported second-quarter earnings of $0.29 per share and net income of $48.3 million, while also highlighting a stronger net interest margin of 3.72% and asset growth to $21.18 billion following the Heritage Commerce acquisition. Article Title
• Positive Sentiment: Some coverage emphasized that quarterly earnings of $0.44 per share beat analyst expectations, suggesting underlying operating performance may have been better than the initial headline numbers implied. Article Title
• Neutral Sentiment: The company appointed veteran banker Michael J. Maddox to its board, a governance update that should not materially affect near-term fundamentals but adds experienced leadership. Article Title
• Neutral Sentiment: CVB Financial also drew attention in valuation-focused commentary, with some analysts arguing the stock may still be undervalued relative to returns and fair value estimates. Article Title
• Negative Sentiment: Other reports noted that CVB Financial missed second-quarter sales expectations, and the company’s initial reported EPS of $0.29 versus a $0.30 estimate may have pressured sentiment despite the stronger balance-sheet trends. Article Title
• Negative Sentiment: Management also disclosed $31.4 million of acquisition-related expenses and a $4.25 million provision for unfunded loan commitments, which could weigh on near-term earnings quality. Article Title

CVB Financial Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.