Fifth Third Bancorp Buys 55,291 Shares of CVB Financial Corporation $CVBF

Fifth Third Bancorp increased its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 3,763.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of CVB Financial by 28.7% in the first quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock worth $698,000 after buying an additional 8,432 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of CVB Financial by 36.6% in the first quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 12,992 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CVB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock valued at $1,456,000 after acquiring an additional 3,442 shares in the last quarter. Jones Financial Companies Lllp grew its stake in CVB Financial by 848.1% during the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 13,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CVB Financial by 9.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock worth $8,458,000 after acquiring an additional 38,250 shares during the period. Institutional investors own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVBF. 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. Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Stephens restated an “equal weight” rating and issued a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Finally, Piper Sandler lifted their price target on CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.38.

CVB Financial Stock Up 0.9%

Shares of NASDAQ:CVBF opened at $22.56 on Friday. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $23.36. The firm has a fifty day moving average of $21.49 and a 200 day moving average of $20.43. The firm has a market capitalization of $3.98 billion, a PE ratio of 15.56 and a beta of 0.65. 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 released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 earnings per share 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 for the quarter, compared to analysts’ expectations of $184.62 million. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, research analysts anticipate that CVB Financial Corporation will post 1.66 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Investors of record on Thursday, July 9th were issued 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 dividend payout ratio (DPR) is currently 55.17%.

Insiders Place Their Bets

In other news, Director George A. Borba, Jr. bought 25,187 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by 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

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.