California Public Employees Retirement System trimmed its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,400 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. California Public Employees Retirement System owned about 0.11% of CVB Financial Corporation worth $2,633,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. boosted its holdings in CVB Financial Corporation by 48,056.5% during the first quarter. BlackRock Inc. now owns 12,385,851 shares of the financial services provider’s stock valued at $273,605,000 after acquiring an additional 12,360,131 shares during the period. Vanguard Group Inc. lifted its stake in shares of CVB Financial Corporation by 3.9% in the second quarter. Vanguard Group Inc. now owns 9,771,495 shares of the financial services provider’s stock valued at $219,175,000 after buying an additional 365,996 shares during the period. State Street Corp lifted its stake in shares of CVB Financial Corporation by 17.8% in the first quarter. State Street Corp now owns 3,870,952 shares of the financial services provider’s stock valued at $85,508,000 after buying an additional 586,205 shares during the period. Northern Trust Corp lifted its stake in shares of CVB Financial Corporation by 3.3% in the second quarter. Northern Trust Corp now owns 2,361,525 shares of the financial services provider’s stock valued at $52,969,000 after buying an additional 76,345 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of CVB Financial Corporation by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,356,634 shares of the financial services provider’s stock valued at $52,860,000 after buying an additional 63,017 shares during the period. 67.28% of the stock is currently owned by hedge funds and other institutional investors.
CVB Financial Corporation (CVBF) opened at 24.29 on Monday. CVB Financial Corporation has a 52 week low of $16.32 and a 52 week high of $25.25. The firm’s 50-day moving average is $23.04 and its 200-day moving average is $21.82. The company has a market cap of $2.68 billion, a PE ratio of 24.15 and a beta of 1.56.
CVB Financial Corporation (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. The firm had revenue of $81.78 million during the quarter, compared to the consensus estimate of $81.78 million. CVB Financial Corporation had a net margin of 35.60% and a return on equity of 10.89%. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, analysts expect that CVB Financial Corporation will post $1.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Wednesday, October 4th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Tuesday, October 3rd. CVB Financial Corporation’s dividend payout ratio is currently 53.85%.
Several equities research analysts recently weighed in on CVBF shares. Zacks Investment Research upgraded shares of CVB Financial Corporation from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, July 24th. ValuEngine upgraded shares of CVB Financial Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Piper Jaffray Companies reiterated a “hold” rating on shares of CVB Financial Corporation in a research note on Friday, October 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 target price on shares of CVB Financial Corporation in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. CVB Financial Corporation currently has a consensus rating of “Hold” and an average target price of $23.20.
In other CVB Financial Corporation news, Director Anna Kan acquired 4,660 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average price of $21.50 per share, with a total value of $100,190.00. Following the acquisition, the director now directly owns 17,660 shares of the company’s stock, valued at approximately $379,690. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 7.00% of the company’s stock.
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CVB Financial Corporation Profile
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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