Nisa Investment Advisors LLC Decreases Stake in CVB Financial Corp. (NASDAQ:CVBF)

Nisa Investment Advisors LLC lowered its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 13.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 51,390 shares of the financial services provider’s stock after selling 7,913 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CVB Financial were worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVBF. Charles Schwab Investment Management Inc. increased its holdings in CVB Financial by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock worth $59,558,000 after buying an additional 213,038 shares during the last quarter. Equitable Trust Co. raised its holdings in shares of CVB Financial by 8.3% in the 3rd quarter. Equitable Trust Co. now owns 26,074 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 1,994 shares during the period. Illinois Municipal Retirement Fund purchased a new position in CVB Financial in the third quarter valued at approximately $1,243,000. Victory Capital Management Inc. grew its holdings in CVB Financial by 904.1% during the third quarter. Victory Capital Management Inc. now owns 416,953 shares of the financial services provider’s stock valued at $6,909,000 after purchasing an additional 375,426 shares during the period. Finally, GSA Capital Partners LLP increased its position in CVB Financial by 3.3% in the third quarter. GSA Capital Partners LLP now owns 96,122 shares of the financial services provider’s stock worth $1,593,000 after buying an additional 3,112 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Analyst Ratings Changes

CVBF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their price target on CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. Wedbush dropped their price objective on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Finally, StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.67.

Insider Buying and Selling

In other news, CEO David A. Brager purchased 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares in the company, valued at $2,559,634.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other CVB Financial news, CEO David A. Brager bought 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were acquired at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the purchase, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George A. Borba, Jr. purchased 59,601 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the transaction, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 63,601 shares of company stock valued at $1,067,145. Company insiders own 6.00% of the company’s stock.

CVB Financial Price Performance

CVB Financial stock opened at $16.09 on Tuesday. CVB Financial Corp. has a one year low of $10.66 and a one year high of $21.77. The firm has a market capitalization of $2.25 billion, a P/E ratio of 10.12 and a beta of 0.46. The business has a fifty day moving average price of $17.12 and a 200-day moving average price of $17.70.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The business had revenue of $138.52 million during the quarter, compared to the consensus estimate of $134.88 million. Sell-side analysts expect that CVB Financial Corp. will post 1.49 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.97%. CVB Financial’s dividend payout ratio is currently 50.31%.

About CVB Financial

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.