Illinois Municipal Retirement Fund Has $1.49 Million Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

Illinois Municipal Retirement Fund reduced its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,668 shares of the financial services provider’s stock after selling 1,355 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of CVB Financial worth $1,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of CVB Financial by 2.5% in the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 854 shares during the last quarter. Covestor Ltd raised its position in CVB Financial by 11.2% in the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 885 shares during the last quarter. Equitable Trust Co. raised its position in CVB Financial by 6.5% in the 4th quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 1,705 shares during the last quarter. Strs Ohio acquired a new position in CVB Financial in the fourth quarter worth $36,000. Finally, Natixis Advisors L.P. grew its holdings in shares of CVB Financial by 10.1% during the third quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 1,905 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a report on Monday, April 22nd. Keefe, Bruyette & Woods cut their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research note on Friday. Stephens restated an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research report on Thursday. Wedbush restated a “neutral” rating and issued a $19.00 price objective on shares of CVB Financial in a report on Thursday. Finally, StockNews.com raised shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.00.

CVB Financial Price Performance

CVB Financial stock opened at $16.48 on Friday. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.84 and a beta of 0.46. The company’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $17.70. CVB Financial Corp. has a fifty-two week low of $10.66 and a fifty-two week high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.94%. The company had revenue of $126.57 million for the quarter, compared to analysts’ expectations of $127.46 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, analysts predict that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.85%. CVB Financial’s payout ratio is 52.63%.

Insiders Place Their Bets

In other CVB Financial news, CEO David A. Brager acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at approximately $2,559,634.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David A. Brager acquired 2,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $16.75 per share, with a total value of $33,500.00. Following the completion of the transaction, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George A. Borba, Jr. purchased 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The disclosure for this purchase can be found here. Insiders acquired 63,601 shares of company stock worth $1,067,145 over the last ninety days. 6.00% of the stock is currently 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.