Principal Financial Group Inc. Reduces Position in CVB Financial Corporation $CVBF

Principal Financial Group Inc. decreased its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 20.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 619,329 shares of the financial services provider’s stock after selling 160,683 shares during the period. Principal Financial Group Inc. owned 0.46% of CVB Financial worth $12,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HoldCo Asset Management LP grew 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 during the last quarter. Bernzott Capital Advisors acquired a new position in shares of CVB Financial in the 1st quarter valued at $8,054,000. Arrowstreet Capital Limited Partnership purchased a new stake in CVB Financial in the 2nd quarter valued at $5,636,000. FJ Capital Management LLC purchased a new stake in CVB Financial in the 4th quarter valued at $5,117,000. Finally, Jane Street Group LLC acquired a new stake in CVB Financial during the 1st quarter worth $4,461,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

CVB Financial stock opened at $22.56 on Friday. 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 business has a 50 day simple moving average of $21.49 and a 200-day simple moving average of $20.43. CVB Financial Corporation has a 12 month low of $17.94 and a 12 month high of $23.36. The stock has a market capitalization of $3.98 billion, a PE ratio of 15.56 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data 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). The firm had revenue of $179.43 million during the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same quarter last year, the business earned $0.36 earnings per share. Equities analysts predict that CVB Financial Corporation will post 1.63 earnings per share for the current year.

CVB Financial Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports 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 objective on the stock in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CVB Financial in a report on Wednesday, July 8th. Stephens reiterated an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Finally, Piper Sandler raised 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.38.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. bought 25,187 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price of $19.85 per share, with a total value of $499,961.95. Following the completion of the acquisition, the director directly owned 846,308 shares in the company, valued at approximately $16,799,213.80. The trade was a 3.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.40% of the stock is currently owned by insiders.

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

About CVB Financial

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.