CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,338 shares of the financial services provider’s stock after selling 14,524 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of CVB Financial worth $1,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Natixis Advisors LLC grew its holdings in shares of CVB Financial by 2.1% during the third quarter. Natixis Advisors LLC now owns 26,583 shares of the financial services provider’s stock worth $474,000 after buying an additional 545 shares during the last quarter. Blue Trust Inc. boosted its holdings in CVB Financial by 17.7% in the 4th 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. Allspring Global Investments Holdings LLC purchased a new stake in CVB Financial in the 3rd quarter valued at approximately $27,000. KBC Group NV boosted its holdings in CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in CVB Financial by 11.9% in the 4th quarter. Diversified Trust Co now owns 49,520 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 5,249 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $19.83 on Monday. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58. The company has a market capitalization of $2.77 billion, a P/E ratio of 13.77 and a beta of 0.50. The business has a 50 day moving average price of $20.90 and a 200 day moving average price of $20.06.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, research analysts expect that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler decreased their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Stephens decreased their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.20.

About CVB Financial

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.