Public Employees Retirement Association of Colorado Raises Stake in CVB Financial Corp. (NASDAQ:CVBF)

Public Employees Retirement Association of Colorado raised its holdings in shares of CVB Financial Corp. (NASDAQ:CVBFGet Rating) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 943,623 shares of the financial services provider’s stock after acquiring an additional 40,956 shares during the period. Public Employees Retirement Association of Colorado owned about 0.67% of CVB Financial worth $23,411,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CVBF. LPL Financial LLC boosted its holdings in CVB Financial by 0.7% in the second quarter. LPL Financial LLC now owns 65,429 shares of the financial services provider’s stock valued at $1,623,000 after acquiring an additional 446 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in CVB Financial by 4.8% in the first quarter. Ameritas Investment Partners Inc. now owns 10,626 shares of the financial services provider’s stock worth $247,000 after buying an additional 490 shares in the last quarter. Whittier Trust Co. raised its stake in CVB Financial by 8.9% in the second quarter. Whittier Trust Co. now owns 10,208 shares of the financial services provider’s stock worth $253,000 after buying an additional 833 shares in the last quarter. FMR LLC lifted its holdings in CVB Financial by 96.0% in the second quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock worth $44,000 after buying an additional 860 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in CVB Financial by 7.0% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 13,410 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 876 shares in the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP David F. Farnsworth sold 3,447 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $28.48, for a total transaction of $98,170.56. Following the sale, the executive vice president now owns 34,796 shares in the company, valued at $990,990.08. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP David F. Farnsworth sold 3,447 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $28.48, for a total transaction of $98,170.56. Following the transaction, the executive vice president now directly owns 34,796 shares of the company’s stock, valued at $990,990.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David F. Farnsworth sold 11,553 shares of CVB Financial stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $28.51, for a total value of $329,376.03. Following the completion of the sale, the executive vice president now owns 34,796 shares of the company’s stock, valued at $992,033.96. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

CVB Financial Stock Performance

CVBF stock opened at $27.26 on Friday. The firm has a 50 day moving average price of $27.56 and a 200-day moving average price of $26.27. CVB Financial Corp. has a 52-week low of $20.36 and a 52-week high of $29.25. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.70 and a beta of 0.41.

CVB Financial (NASDAQ:CVBFGet Rating) last released its earnings results on Thursday, October 20th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CVB Financial had a return on equity of 10.82% and a net margin of 41.25%. The business had revenue of $144.93 million for the quarter, compared to the consensus estimate of $143.30 million. During the same period in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, sell-side analysts forecast that CVB Financial Corp. will post 1.68 earnings per share for the current fiscal year.

CVB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th were paid a dividend of $0.20 per share. This is a positive change from CVB Financial’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Tuesday, October 4th. CVB Financial’s dividend payout ratio (DPR) is currently 51.95%.

Analysts Set New Price Targets

Several research firms recently weighed in on CVBF. Keefe, Bruyette & Woods lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research report on Friday, October 21st. StockNews.com assumed coverage on shares of CVB Financial in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

About CVB Financial

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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