CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 34,366 shares of the financial services provider’s stock after selling 1,500 shares during the period. New York State Teachers Retirement System’s holdings in CVB Financial were worth $612,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CVB Financial by 43.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 111,879 shares of the financial services provider’s stock valued at $1,944,000 after acquiring an additional 34,088 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in CVB Financial by 48.1% during the first quarter. BNP Paribas Financial Markets now owns 67,644 shares of the financial services provider’s stock worth $1,207,000 after purchasing an additional 21,969 shares during the last quarter. Texas Permanent School Fund Corp raised its position in CVB Financial by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 115,600 shares of the financial services provider’s stock worth $2,062,000 after acquiring an additional 1,299 shares during the last quarter. Quantbot Technologies LP purchased a new position in CVB Financial during the first quarter worth $1,205,000. Finally, SG Americas Securities LLC acquired a new position in shares of CVB Financial in the first quarter valued at approximately $320,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Trading Up 1.6 %

Shares of NASDAQ:CVBF opened at $22.00 on Monday. CVB Financial Corp. has a twelve month low of $15.71 and a twelve month high of $22.63. The firm has a market cap of $3.07 billion, a P/E ratio of 15.38 and a beta of 0.44. The company has a 50 day moving average of $18.59 and a 200-day moving average of $17.72.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The business had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. During the same period last year, the company posted $0.42 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts forecast that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.64%. CVB Financial’s payout ratio is presently 55.94%.

Wall Street Analysts Forecast Growth

CVBF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Stephens lifted their target price on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Piper Sandler lowered their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.80.

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.