Principal Financial Group Inc. Cuts Holdings in CVB Financial Corporation $CVBF

Principal Financial Group Inc. reduced its holdings in CVB Financial Corporation (NASDAQ:CVBF) by 20.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 619,329 shares of the financial services provider’s stock after selling 160,683 shares during the quarter. Principal Financial Group Inc.’s holdings in CVB Financial were worth $12,009,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Aster Capital Management DIFC Ltd grew its holdings 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 acquiring an additional 1,967 shares during the period. Kestra Advisory Services LLC purchased a new position in CVB Financial in the fourth quarter worth $42,000. Larson Financial Group LLC raised its position in CVB Financial by 288.9% in the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 1,791 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in CVB Financial in the second quarter valued at $103,000. Finally, Los Angeles Capital Management LLC acquired a new stake in CVB Financial in the fourth quarter valued at $127,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

NASDAQ CVBF opened at $22.56 on Friday. The business has a 50 day moving average price of $21.49 and a 200 day moving average price of $20.43. The company has a market capitalization of $3.98 billion, a P/E 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.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm 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 in the previous year, the firm posted $0.36 earnings per share. Sell-side analysts expect that CVB Financial Corporation will post 1.63 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 9th. CVB Financial’s payout ratio is 52.63%.

CVB Financial News Summary

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

Insider Activity

In other CVB Financial news, Director George A. Borba, Jr. acquired 50,242 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $19.90 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of CVB Financial in a research report on Wednesday, July 8th. Piper Sandler increased their price target on shares of CVB Financial from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Raymond James Financial upgraded shares of 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. Finally, Stephens reissued 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 given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.38.

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.