Bernzott Capital Advisors Invests $8.05 Million in CVB Financial Corporation $CVBF

Bernzott Capital Advisors purchased a new stake in CVB Financial Corporation (NASDAQ:CVBF) in the first quarter, Holdings Channel reports. The firm purchased 415,389 shares of the financial services provider’s stock, valued at approximately $8,054,000. CVB Financial accounts for approximately 3.9% of Bernzott Capital Advisors’ portfolio, making the stock its 5th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd lifted its position in CVB Financial by 8,940.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in CVB Financial during the fourth quarter worth about $42,000. Larson Financial Group LLC raised its stake in CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares during the period. Osterweis Capital Management Inc. purchased a new position in CVB Financial during the second quarter worth about $103,000. Finally, Los Angeles Capital Management LLC acquired a new position in CVB Financial in the 4th quarter valued at about $127,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Up 0.8%

NASDAQ:CVBF opened at $22.35 on Friday. CVB Financial Corporation has a 52 week low of $17.94 and a 52 week high of $23.33. The stock’s fifty day moving average is $20.95 and its two-hundred day moving average is $20.18. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 14.70 and a beta of 0.65. 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 (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. CVB Financial had a return on equity of 9.16% and a net margin of 32.05%.The business had revenue of $132.12 million during the quarter, compared to analysts’ expectations of $162.29 million. During the same period in the previous year, the firm posted $0.36 earnings per share. Research analysts anticipate that CVB Financial Corporation will post 1.63 EPS for the current year.

CVB Financial Announces Dividend

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

Insider Buying and Selling

In other news, Director George A. Borba, Jr. bought 50,242 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $19.90 per share, with a total value of $999,815.80. Following the transaction, the director directly owned 796,024 shares in the company, valued at $15,840,877.60. The trade was a 6.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.