New York State Teachers Retirement System Has $699,000 Holdings in CVB Financial Corp. (NASDAQ:CVBF)

New York State Teachers Retirement System lessened its position in CVB Financial Corp. (NASDAQ:CVBF) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 32,666 shares of the financial services provider’s stock after selling 1,700 shares during the period. New York State Teachers Retirement System’s holdings in CVB Financial were worth $699,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in CVB Financial in the third quarter valued at approximately $27,000. KBC Group NV grew its stake in CVB Financial by 35.0% in the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 1,556 shares during the period. SG Americas Securities LLC acquired a new stake in CVB Financial in the third quarter valued at approximately $107,000. Blue Trust Inc. lifted its holdings in shares of CVB Financial by 17.7% in the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 918 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of CVB Financial in the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Down 1.6 %

Shares of CVB Financial stock opened at $19.83 on Monday. The business’s fifty day simple moving average is $20.90 and its 200 day simple moving average is $20.06. CVB Financial Corp. has a 12 month low of $15.71 and a 12 month high of $24.58. The firm has a market capitalization of $2.77 billion, a P/E ratio of 13.77 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Analysts predict that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

CVBF has been the topic of a number of recent research reports. Stephens dropped their target price on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Piper Sandler dropped their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their price target on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.20.

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.