Fifth Third Bancorp Has $1.10 Million Stake in CVB Financial Corporation $CVBF

Fifth Third Bancorp raised its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 3,763.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,760 shares of the financial services provider’s stock after purchasing an additional 55,291 shares during the period. Fifth Third Bancorp’s holdings in CVB Financial were worth $1,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in CVB Financial by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,281,980 shares of the financial services provider’s stock worth $135,447,000 after acquiring an additional 171,971 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in CVB Financial by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock worth $102,092,000 after buying an additional 67,563 shares during the last quarter. HoldCo Asset Management LP increased its position in shares of CVB Financial by 17,051.0% during the fourth quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after acquiring an additional 2,211,005 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of CVB Financial by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock worth $37,784,000 after acquiring an additional 74,914 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in CVB Financial by 2.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,739,743 shares of the financial services provider’s stock valued at $32,359,000 after acquiring an additional 39,771 shares in the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. purchased 50,242 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $19.90 per share, with a total value of $999,815.80. Following the transaction, the director directly owned 796,024 shares of the company’s stock, valued at approximately $15,840,877.60. This represents a 6.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

CVB Financial Trading Up 0.9%

Shares of CVB Financial stock opened at $22.56 on Friday. The firm has a market cap of $3.98 billion, a PE ratio of 15.56 and a beta of 0.65. CVB Financial Corporation has a 1 year low of $17.94 and a 1 year high of $23.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.73. The stock has a fifty day moving average price of $21.49 and a 200-day moving average price of $20.43.

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 analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $179.43 million for the quarter, compared to analysts’ expectations 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 posted $0.36 EPS. Equities research analysts anticipate that CVB Financial Corporation will post 1.66 EPS for the current year.

CVB Financial Announces Dividend

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

Key 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

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.