Public Employees Retirement Association of Colorado Trims Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Public Employees Retirement Association of Colorado lowered its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 712,796 shares of the financial services provider’s stock after selling 1,265 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.51% of CVB Financial worth $12,289,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of CVB Financial during the fourth quarter valued at approximately $29,134,000. Assetmark Inc. lifted its stake in CVB Financial by 141.5% in the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 5,038 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of CVB Financial by 222,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 17,792 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 17,784 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of CVB Financial during the fourth quarter valued at about $268,000. Finally, Rafferty Asset Management LLC increased its holdings in shares of CVB Financial by 27.8% in the fourth quarter. Rafferty Asset Management LLC now owns 214,850 shares of the financial services provider’s stock worth $4,338,000 after purchasing an additional 46,692 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kimberly H. Sheehy sold 2,961 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $17.14, for a total value of $50,751.54. Following the completion of the sale, the director now directly owns 13,156 shares of the company’s stock, valued at $225,493.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

CVB Financial Stock Performance

Shares of NASDAQ CVBF opened at $18.25 on Friday. CVB Financial Corp. has a fifty-two week low of $14.62 and a fifty-two week high of $21.77. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 12.01 and a beta of 0.45. The business’s 50 day moving average price is $17.97 and its 200-day moving average price is $17.22.

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

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.80 annualized dividend and a yield of 4.38%. CVB Financial’s dividend payout ratio (DPR) is currently 52.63%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stephens raised their price target on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Wedbush increased their price objective on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 target price (up from $19.00) on shares of CVB Financial in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, CVB Financial presently has an average rating of “Hold” and a consensus price target of $20.00.

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.