Public Employees Retirement Association of Colorado Increases Stock Position in CVB Financial Corp. (NASDAQ:CVBF)

Public Employees Retirement Association of Colorado boosted its stake in CVB Financial Corp. (NASDAQ:CVBF) by 12.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 840,198 shares of the financial services provider’s stock after acquiring an additional 90,147 shares during the period. Public Employees Retirement Association of Colorado owned about 0.60% of CVB Financial worth $17,669,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan lifted its position in CVB Financial by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 30,560 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 530 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in CVB Financial by 1.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 40,375 shares of the financial services provider’s stock valued at $849,000 after acquiring an additional 700 shares during the last quarter. Arizona State Retirement System lifted its position in CVB Financial by 0.6% in the second quarter. Arizona State Retirement System now owns 158,548 shares of the financial services provider’s stock valued at $3,334,000 after acquiring an additional 921 shares during the last quarter. Mason Street Advisors LLC lifted its position in CVB Financial by 3.1% in the first quarter. Mason Street Advisors LLC now owns 32,816 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 1,002 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in CVB Financial by 0.4% in the first quarter. Rhumbline Advisers now owns 345,764 shares of the financial services provider’s stock valued at $7,278,000 after acquiring an additional 1,434 shares during the last quarter. 64.12% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Christopher D. Myers sold 4,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $22.04, for a total value of $101,384.00. Following the completion of the sale, the chief executive officer now directly owns 229,557 shares of the company’s stock, valued at $5,059,436.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:CVBF traded down $0.31 on Wednesday, reaching $20.54. The company’s stock had a trading volume of 2,926 shares, compared to its average volume of 505,586. The business has a 50-day moving average price of $20.96. CVB Financial Corp. has a 52-week low of $19.21 and a 52-week high of $24.97. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.92 billion, a PE ratio of 16.52, a P/E/G ratio of 1.46 and a beta of 1.07.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. CVB Financial had a net margin of 37.43% and a return on equity of 10.02%. The business had revenue of $129.26 million during the quarter, compared to analysts’ expectations of $121.72 million. During the same period in the prior year, the company earned $0.32 earnings per share. On average, sell-side analysts forecast that CVB Financial Corp. will post 1.5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 3rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.51%. CVB Financial’s payout ratio is 58.06%.

CVBF has been the subject of a number of research reports. ValuEngine cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Friday, July 19th. Zacks Investment Research raised shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. BidaskClub raised shares of CVB Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, FIG Partners cut shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. CVB Financial currently has a consensus rating of “Hold” and an average target price of $24.25.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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

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