CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in CVB Financial Corp. (NASDAQ:CVBF) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,796 shares of the financial services provider’s stock after selling 1,265 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in CVB Financial were worth $12,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new position in shares of CVB Financial in the 2nd quarter valued at approximately $236,000. Vanguard Personalized Indexing Management LLC increased its stake in CVB Financial by 5.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,538 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 748 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of CVB Financial by 143.4% in the second quarter. Renaissance Technologies LLC now owns 111,694 shares of the financial services provider’s stock worth $1,926,000 after buying an additional 65,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CVB Financial by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock worth $97,399,000 after buying an additional 816,176 shares during the period. Finally, Inspire Advisors LLC purchased a new stake in shares of CVB Financial during the second quarter valued at $1,474,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Down 1.7 %

Shares of CVB Financial stock opened at $18.25 on Friday. The firm has a market cap of $2.55 billion, a PE ratio of 12.01 and a beta of 0.45. The business has a 50-day moving average price of $17.97 and a 200 day moving average price of $17.22. CVB Financial Corp. has a twelve month low of $14.62 and a twelve month high of $21.77.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The company had revenue of $125.27 million during the quarter, compared to analysts’ expectations of $126.86 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts expect that CVB Financial Corp. will post 1.4 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.38%. The ex-dividend date is Monday, September 30th. CVB Financial’s dividend payout ratio is currently 52.63%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVBF. Stephens lifted their price target 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. Wedbush upped their target price on CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 price target (up from $19.00) on shares of CVB Financial in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, CVB Financial presently has a consensus rating of “Hold” and an average price target of $20.00.

Insider Activity at CVB Financial

In other news, Director Kimberly H. Sheehy sold 2,961 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the sale, the director now owns 13,156 shares of the company’s stock, valued at $225,493.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.00% of the stock is owned by corporate insiders.

CVB Financial 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.