CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in CVB Financial Corp. (NASDAQ:CVBF) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 46,253 shares of the financial services provider’s stock after selling 1,448 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CVB Financial were worth $797,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CVBF. Goldman Sachs Group Inc. increased its stake in CVB Financial by 104.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after buying an additional 1,994,369 shares during the period. Norges Bank acquired a new position in CVB Financial in the 4th quarter valued at $29,134,000. Principal Financial Group Inc. increased its stake in CVB Financial by 56.4% in the 4th quarter. Principal Financial Group Inc. now owns 2,914,706 shares of the financial services provider’s stock valued at $58,848,000 after buying an additional 1,050,625 shares during the period. Dimensional Fund Advisors LP increased its stake in CVB Financial by 16.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock valued at $86,619,000 after buying an additional 594,901 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in CVB Financial by 368.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 721,112 shares of the financial services provider’s stock valued at $14,559,000 after buying an additional 567,321 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Trading Up 0.4 %

NASDAQ:CVBF opened at $18.42 on Monday. The firm has a 50-day moving average price of $17.77 and a two-hundred day moving average price of $17.17. CVB Financial Corp. has a twelve month low of $14.62 and a twelve month high of $21.77. The company has a market capitalization of $2.57 billion, a P/E ratio of 12.12 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $126.86 million. During the same period last year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research 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 declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, July 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. purchased 4,610 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly owns 665,121 shares in the company, valued at approximately $10,641,936. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director George A. Borba, Jr. purchased 4,610 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly owns 665,121 shares in the company, valued at approximately $10,641,936. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimberly H. Sheehy sold 2,961 shares of CVB Financial stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the sale, the director now owns 13,156 shares of the company’s stock, valued at $225,493.84. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

CVBF has been the topic of a number of recent analyst reports. Stephens upped their price target on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 price target (up from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Finally, Wedbush upped their price target on shares of CVB Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.