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

Weiss Asset Management LP purchased a new stake in CVB Financial Corporation (NASDAQ:CVBF) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 428,200 shares of the financial services provider’s stock, valued at approximately $8,303,000. Weiss Asset Management LP owned about 0.32% of CVB Financial at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Aster Capital Management DIFC Ltd raised its position in shares of CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in CVB Financial during the 4th quarter valued at $42,000. Larson Financial Group LLC grew its holdings in CVB Financial by 288.9% during the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,791 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in CVB Financial during the second quarter worth $103,000. Finally, KBC Group NV increased its position in CVB Financial by 46.2% during the first quarter. KBC Group NV now owns 5,684 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,797 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CVB Financial news, Director George A. Borba, Jr. purchased 25,187 shares of the stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $19.85 per share, for a total transaction of $499,961.95. Following the acquisition, the director directly owned 846,308 shares of the company’s stock, valued at $16,799,213.80. This represents a 3.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 6.40% of the stock is owned by company insiders.

More CVB Financial News

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

Analyst Ratings Changes

Several brokerages have recently issued reports on CVBF. Piper Sandler upped 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. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research report on Wednesday, July 1st. Weiss Ratings raised shares of CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Finally, Stephens reissued an “equal weight” rating and issued a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.38.

CVB Financial Trading Up 0.9%

Shares of CVBF opened at $22.56 on Friday. CVB Financial Corporation has a fifty-two week low of $17.94 and a fifty-two week high of $23.36. The company has a market capitalization of $3.98 billion, a PE ratio of 15.56 and a beta of 0.65. The stock has a fifty day moving average of $21.49 and a two-hundred day moving average of $20.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.73 and a current ratio of 0.77.

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

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th were paid 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 (DPR) is presently 55.17%.

CVB Financial Company 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.