CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,775 shares of the financial services provider’s stock after selling 2,825 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of CVB Financial worth $1,944,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. nVerses Capital LLC increased its stake in shares of CVB Financial by 466.7% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,400 shares during the period. Versant Capital Management Inc grew its holdings in CVB Financial by 832.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,574 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of CVB Financial in the 2nd quarter valued at $38,000. Assetmark Inc. raised its holdings in shares of CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,038 shares in the last quarter. Finally, WBI Investments LLC acquired a new position in shares of CVB Financial during the second quarter worth $177,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Up 1.3 %

Shares of NASDAQ CVBF opened at $18.11 on Wednesday. The stock has a market cap of $2.53 billion, a PE ratio of 11.91 and a beta of 0.45. CVB Financial Corp. has a 52-week low of $14.62 and a 52-week high of $21.77. The business has a 50-day moving average price of $17.93 and a 200 day moving average price of $17.20.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The business had revenue of $125.27 million during the quarter, compared to the consensus estimate of $126.86 million. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. Sell-side analysts anticipate that CVB Financial Corp. will post 1.4 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.42%. CVB Financial’s dividend payout ratio is presently 52.63%.

Wall Street Analyst Weigh In

CVBF has been the topic of a number of analyst reports. Stephens raised their price target on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $20.00 target price (up previously from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Wedbush increased their price target on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Janney Montgomery Scott downgraded shares of CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, CVB Financial currently has an average rating of “Hold” and an average price target of $20.00.

Insider Activity

In related news, Director Kimberly H. Sheehy sold 2,961 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the transaction, the director now owns 13,156 shares of the company’s stock, valued at $225,493.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.