Nisa Investment Advisors LLC Has $845,000 Stock Position in CVB Financial Corporation (NASDAQ:CVBF)

Nisa Investment Advisors LLC reduced its holdings in shares of CVB Financial Corporation (NASDAQ:CVBF) by 12.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,758 shares of the financial services provider’s stock after selling 6,600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CVB Financial were worth $845,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CVBF. Capital Research Global Investors acquired a new position in shares of CVB Financial during the 4th quarter worth $94,382,000. Massachusetts Financial Services Co. MA acquired a new position in CVB Financial in the 4th quarter worth about $31,064,000. Norges Bank acquired a new position in CVB Financial in the 4th quarter worth about $27,724,000. Parallel Advisors LLC increased its stake in shares of CVB Financial by 29.7% in the first quarter. Parallel Advisors LLC now owns 3,822,248 shares of the financial services provider’s stock valued at $70,559,000 after buying an additional 874,631 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of CVB Financial by 99.6% in the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider’s stock valued at $20,755,000 after buying an additional 483,844 shares during the period. 74.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their target price on CVB Financial from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th.

CVB Financial Stock Down 3.2%

CVBF opened at $20.52 on Wednesday. The stock has a market cap of $2.83 billion, a PE ratio of 14.15 and a beta of 0.67. The business has a 50 day moving average of $19.46 and a 200-day moving average of $19.40. CVB Financial Corporation has a 52 week low of $16.01 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. CVB Financial had a return on equity of 9.32% and a net margin of 30.24%. The business had revenue of $126.67 million during the quarter, compared to analyst estimates of $124.45 million. During the same quarter last year, the company earned $0.35 EPS. Equities analysts anticipate that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be given a $0.20 dividend. The ex-dividend date is Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.90%. CVB Financial’s dividend payout ratio is currently 55.17%.

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.