CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,953 shares of the financial services provider’s stock after selling 707 shares during the period. Arizona State Retirement System’s holdings in CVB Financial were worth $786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new stake in shares of CVB Financial during the 4th quarter worth about $293,000. Raymond James & Associates boosted its stake in shares of CVB Financial by 2.5% during the 4th quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after acquiring an additional 854 shares in the last quarter. Diversified Trust Co boosted its stake in shares of CVB Financial by 77.2% during the 4th quarter. Diversified Trust Co now owns 37,086 shares of the financial services provider’s stock worth $749,000 after acquiring an additional 16,161 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of CVB Financial by 44.1% during the 3rd quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after acquiring an additional 1,204,090 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of CVB Financial by 15.4% during the 3rd quarter. Deutsche Bank AG now owns 63,464 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 8,489 shares in the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on CVBF shares. Wedbush decreased their price target on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. StockNews.com raised shares of CVB Financial to a “sell” rating in a research note on Friday, January 5th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.67.

CVB Financial Price Performance

CVBF opened at $15.85 on Thursday. The company’s 50 day simple moving average is $17.07 and its two-hundred day simple moving average is $17.68. CVB Financial Corp. has a 1-year low of $10.66 and a 1-year high of $21.77. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 9.97 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $138.52 million for the quarter, compared to analyst estimates of $134.88 million. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. On average, equities analysts anticipate that CVB Financial Corp. will post 1.49 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.05%. CVB Financial’s dividend payout ratio is currently 50.31%.

Insider Transactions at CVB Financial

In related news, CEO David A. Brager bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased 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 owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO David A. Brager bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased 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 owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Borba, Jr. bought 59,601 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was bought at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders bought 63,601 shares of company stock worth $1,067,145 in the last 90 days. Insiders own 6.00% of the company’s stock.

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.