Louisiana State Employees Retirement System Purchases Shares of 66,200 CVB Financial Corp. (NASDAQ:CVBF)

Louisiana State Employees Retirement System acquired a new stake in CVB Financial Corp. (NASDAQ:CVBF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 66,200 shares of the financial services provider’s stock, valued at approximately $1,337,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in CVB Financial by 7.7% during the 1st quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock worth $483,284,000 after acquiring an additional 1,487,960 shares in the last quarter. Vanguard Group Inc. grew its holdings in CVB Financial by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 15,338,056 shares of the financial services provider’s stock worth $388,359,000 after acquiring an additional 105,237 shares in the last quarter. State Street Corp grew its holdings in CVB Financial by 29.9% during the 2nd quarter. State Street Corp now owns 8,084,109 shares of the financial services provider’s stock worth $107,357,000 after acquiring an additional 1,861,050 shares in the last quarter. American Century Companies Inc. grew its holdings in 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, Dimensional Fund Advisors LP grew its holdings in CVB Financial by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,733,409 shares of the financial services provider’s stock worth $62,271,000 after acquiring an additional 212,674 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Price Performance

CVBF stock opened at $16.63 on Monday. The company has a fifty day moving average price of $17.04 and a 200 day moving average price of $17.70. CVB Financial Corp. has a 12 month low of $10.66 and a 12 month high of $21.77. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 10.46 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The firm had revenue of $138.52 million during the quarter, compared to the consensus estimate of $134.88 million. As a group, analysts anticipate that CVB Financial Corp. will post 1.43 earnings per share for the current year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.81%. CVB Financial’s dividend payout ratio (DPR) is 50.31%.

Insider Activity at CVB Financial

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

Analysts Set New Price Targets

CVBF has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Wedbush lowered their price target on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company 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 equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.67.

CVB Financial Company 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.