177,404 Shares in CVB Financial Corporation $CVBF Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 177,404 shares of CVB Financial in the second quarter, worth approximately $4 million and representing about 0.10% of the company. Institutional investors collectively own 74.18% of CVBF.
• Analyst sentiment is favorable, with four Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $26.25, above the stock’s reported $22.39 price.
• CVB Financial reported quarterly EPS of $0.29, slightly below the $0.30 consensus, while revenue of $179.43 million also missed estimates. The company maintains a quarterly dividend of $0.20 per share, equivalent to a 3.6% annualized yield.

Deutsche Bank AG bought a new position in CVB Financial Corporation (NASDAQ:CVBF - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 177,404 shares of the financial services provider's stock, valued at approximately $4,000,000. Deutsche Bank AG owned about 0.10% of CVB Financial as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CVBF. HoldCo Asset Management LP grew its position in CVB Financial by 17,051.0% in the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider's stock worth $41,366,000 after purchasing an additional 2,211,005 shares during the period. Bank of New York Mellon Corp bought a new position in shares of CVB Financial during the 2nd quarter valued at $38,066,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of CVB Financial by 71.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,437 shares of the financial services provider's stock valued at $23,684,000 after buying an additional 507,228 shares during the period. Weiss Asset Management LP purchased a new position in shares of CVB Financial in the 1st quarter worth $8,303,000. Finally, Bernzott Capital Advisors purchased a new position in shares of CVB Financial in the 1st quarter worth $8,054,000. Institutional investors own 74.18% of the company's stock.

Wall Street Analysts Forecast Growth

CVBF has been the subject of a number of research reports. Piper Sandler upped their price objective on CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Weiss Ratings raised CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. DA Davidson boosted their price target on CVB Financial from $22.50 to $25.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Raymond James Financial upgraded CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a research note on Wednesday, July 1st. Finally, Wall Street Zen raised shares of CVB Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.25.

Insider Buying and Selling

In other CVB Financial news, COO David C. Harvey sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total transaction of $917,600.00. Following the sale, the chief operating officer owned 98,149 shares in the company, valued at approximately $2,251,538.06. This trade represents a 28.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brien Raymond V. O. III purchased 20,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $22.77 per share, for a total transaction of $455,400.00. Following the acquisition, the director directly owned 85,780 shares of the company's stock, valued at approximately $1,953,210.60. This represents a 30.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 6.40% of the company's stock.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $22.39 on Wednesday. CVB Financial Corporation has a one year low of $17.94 and a one year high of $23.41. The stock's fifty day moving average is $22.49 and its 200 day moving average is $20.91. The stock has a market cap of $3.94 billion, a P/E ratio of 15.44 and a beta of 0.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. 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 company had revenue of $179.43 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.36 EPS. Sell-side analysts anticipate that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial's payout ratio is presently 55.17%.

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.

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