CVB Financial Corporation $CVBF Holdings Lifted by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its CVB Financial stake by 71% in the first quarter, adding 507,228 shares to own approximately 0.90% of the company. Institutional investors collectively hold 74.18% of CVBF.
• Analyst sentiment is moderately bullish: CVBF has an average rating of “Moderate Buy” and an average price target of $25.75, compared with a recent share price of $22.83.
• CVB Financial reported quarterly EPS of $0.29, slightly below the $0.30 consensus estimate, while revenue also missed expectations. The company maintains a quarterly dividend of $0.20 per share, equivalent to a 3.5% yield.

Arrowstreet Capital Limited Partnership increased its stake in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) by 71.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,221,437 shares of the financial services provider's stock after purchasing an additional 507,228 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.90% of CVB Financial worth $23,684,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CVBF. HoldCo Asset Management LP lifted its holdings in shares of CVB Financial by 17,051.0% during the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider's stock valued at $41,366,000 after buying an additional 2,211,005 shares during the last quarter. Bernzott Capital Advisors acquired a new position in CVB Financial during the first quarter worth $8,054,000. Bessemer Group Inc. increased its holdings in shares of CVB Financial by 34.1% during the 1st quarter. Bessemer Group Inc. now owns 1,466,670 shares of the financial services provider's stock valued at $28,439,000 after acquiring an additional 372,732 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CVB Financial by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 7,613,287 shares of the financial services provider's stock valued at $147,620,000 after purchasing an additional 331,307 shares during the last quarter. Finally, FJ Capital Management LLC bought a new position in shares of CVB Financial in the fourth quarter valued at approximately $5,117,000. Institutional investors and hedge funds own 74.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVBF shares. DA Davidson lifted their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Weiss Ratings raised CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Raymond James Financial raised shares of CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a report on Wednesday, July 1st. Piper Sandler upped their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Stephens lifted their price objective on CVB Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, CVB Financial has an average rating of "Moderate Buy" and an average price target of $25.75.

Insider Buying and Selling

In related news, Director Brien Raymond V. O. III purchased 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was bought at an average cost of $22.77 per share, with a total value of $455,400.00. Following the purchase, the director directly owned 85,780 shares in the company, valued at $1,953,210.60. The trade was a 30.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director George A. Borba, Jr. acquired 25,187 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $19.85 per share, with a total value of $499,961.95. Following the acquisition, the director owned 846,308 shares of the company's stock, valued at approximately $16,799,213.80. This trade represents a 3.07% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 95,429 shares of company stock valued at $1,955,178. 6.40% of the stock is currently owned by insiders.

CVB Financial Stock Up 0.1%

Shares of NASDAQ CVBF opened at $22.83 on Thursday. The stock has a market cap of $4.03 billion, a PE ratio of 15.74 and a beta of 0.65. The business has a fifty day moving average of $21.65 and a two-hundred day moving average of $20.52. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $23.36. 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 - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. The firm had revenue of $179.43 million during the quarter, compared to the consensus estimate of $184.62 million. During the same quarter last year, the firm posted $0.36 EPS. As a group, equities research analysts expect that CVB Financial Corporation will post 1.72 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial's payout ratio is 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.

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