Illinois Municipal Retirement Fund Has $1.28 Million Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Illinois Municipal Retirement Fund decreased its position in CVB Financial Corp. (NASDAQ:CVBF) by 2.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 71,926 shares of the financial services provider’s stock after selling 1,742 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CVB Financial were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CVBF. Goldman Sachs Group Inc. boosted its holdings in CVB Financial by 104.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after acquiring an additional 1,994,369 shares during the last quarter. Norges Bank bought a new position in CVB Financial during the fourth quarter worth about $29,134,000. Principal Financial Group Inc. boosted its holdings in CVB Financial by 56.4% during the fourth quarter. Principal Financial Group Inc. now owns 2,914,706 shares of the financial services provider’s stock worth $58,848,000 after buying an additional 1,050,625 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in CVB Financial by 16.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after buying an additional 594,901 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in CVB Financial by 368.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock worth $14,559,000 after buying an additional 567,321 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

CVB Financial Stock Down 0.5 %

NASDAQ:CVBF opened at $17.70 on Monday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 11.64 and a beta of 0.47. CVB Financial Corp. has a twelve month low of $14.36 and a twelve month high of $21.77. The stock’s 50 day moving average price is $16.76 and its two-hundred day moving average price is $17.26.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Thursday, July 11th. CVB Financial’s payout ratio is presently 52.63%.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. purchased 4,610 shares of CVB Financial stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the purchase, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director George A. Borba, Jr. bought 4,610 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the transaction, the director now owns 665,121 shares in the company, valued at approximately $10,641,936. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George A. Borba, Jr. purchased 34,200 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $15.99 per share, with a total value of $546,858.00. Following the acquisition, the director now directly owns 660,511 shares in the company, valued at approximately $10,561,570.89. The disclosure for this purchase can be found here. Insiders bought 39,910 shares of company stock worth $638,669 in the last ninety days. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVBF shares. Janney Montgomery Scott cut CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Wedbush reissued a “neutral” rating and issued a $19.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Stephens reissued an “equal weight” rating and issued a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods dropped their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.00.

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.