Bernzott Capital Advisors Acquires Shares of 415,389 CVB Financial Corporation $CVBF

Key Points

• Bernzott Capital Advisors disclosed a new first-quarter stake in CVB Financial, buying 415,389 shares valued at about $8.05 million. The position represents roughly 3.9% of its portfolio and makes CVBF its fifth-largest holding.
• Analysts remain broadly positive on CVB Financial after recent rating updates from Raymond James, Piper Sandler, Stephens, and Weiss Ratings. The stock currently carries a consensus Moderate Buy rating with an average price target of $24.30.
• CVB Financial recently reported quarterly EPS of $0.38, matching estimates, and announced a $0.20 quarterly dividend to be paid July 23. At Friday’s opening price of $22.35, the dividend implies an annualized yield of about 3.6%.

Bernzott Capital Advisors bought a new stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 415,389 shares of the financial services provider's stock, valued at approximately $8,054,000. CVB Financial makes up approximately 3.9% of Bernzott Capital Advisors' portfolio, making the stock its 5th largest position. Bernzott Capital Advisors owned 0.31% of CVB Financial at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in shares of CVB Financial by 2.1% in the 4th quarter. ProShare Advisors LLC now owns 25,393 shares of the financial services provider's stock worth $472,000 after buying an additional 521 shares during the last quarter. State of Alaska Department of Revenue grew its stake in CVB Financial by 0.8% in the 4th quarter. State of Alaska Department of Revenue now owns 71,608 shares of the financial services provider's stock worth $1,330,000 after acquiring an additional 561 shares in the last quarter. CWM LLC grew its stake in CVB Financial by 6.3% in the fourth quarter. CWM LLC now owns 10,445 shares of the financial services provider's stock worth $194,000 after purchasing an additional 620 shares in the last quarter. Bolthouse Investments LLC grew its position in shares of CVB Financial by 1.1% during the 4th quarter. Bolthouse Investments LLC now owns 59,383 shares of the financial services provider's stock worth $1,105,000 after buying an additional 637 shares in the last quarter. Finally, Savant Capital LLC increased its position in CVB Financial by 6.1% during the 4th quarter. Savant Capital LLC now owns 11,342 shares of the financial services provider's stock valued at $211,000 after purchasing an additional 653 shares during the period. Institutional investors own 74.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. 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 note on Wednesday, July 1st. Piper Sandler upped their target price on CVB Financial from $26.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Stephens reissued an "equal weight" rating and set a $23.00 price target on shares of CVB Financial in a research report on Tuesday, June 16th. Finally, Weiss Ratings raised CVB Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, April 10th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.30.

Insider Transactions at CVB Financial

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

CVB Financial Stock Up 0.8%

CVBF stock opened at $22.35 on Friday. The stock has a market capitalization of $3.94 billion, a P/E ratio of 14.70 and a beta of 0.65. The firm has a 50-day simple moving average of $20.95 and a 200-day simple moving average of $20.18. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.22. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $23.33.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $132.12 million during the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.During the same period in the previous year, the business earned $0.36 EPS. Equities analysts forecast that CVB Financial Corporation will post 1.63 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th will be issued a $0.20 dividend. The ex-dividend date is Thursday, July 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. CVB Financial's dividend payout ratio (DPR) is presently 52.63%.

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.

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