Teacher Retirement System of Texas Acquires New Shares in CVB Financial Corporation (NASDAQ:CVBF)

Teacher Retirement System of Texas bought a new position in CVB Financial Corporation (NASDAQ:CVBF) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,421 shares of the financial services provider’s stock, valued at approximately $377,000.

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

Analysts Set New Price Targets

Separately, Piper Sandler lowered their target price on shares of CVB Financial from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Monday, April 28th.

CVB Financial Stock Performance

Shares of CVBF stock opened at $21.09 on Friday. The firm’s 50 day moving average price is $19.53 and its 200-day moving average price is $19.41. CVB Financial Corporation has a one year low of $16.01 and a one year high of $24.58. The firm has a market cap of $2.91 billion, a P/E ratio of 14.54 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. CVB Financial had a net margin of 30.24% and a return on equity of 9.32%. The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $124.45 million. During the same period in the prior year, the firm posted $0.35 EPS. As a group, research analysts predict that CVB Financial Corporation will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Thursday, July 10th. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

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.