Public Employees Retirement Association of Colorado Continues to Hold Stake in CVB Financial Corp. (CVBF)
Public Employees Retirement Association of Colorado held its position in CVB Financial Corp. (NASDAQ:CVBF) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 677,451 shares of the financial services provider’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado owned about 0.63% of CVB Financial Corp. worth $11,103,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in CVB Financial Corp. during the second quarter worth about $123,000. BlackRock Inc. raised its stake in CVB Financial Corp. by 121.9% in the first quarter. BlackRock Inc. now owns 7,182 shares of the financial services provider’s stock worth $126,000 after buying an additional 3,945 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in CVB Financial Corp. during the second quarter worth about $137,000. Royal Bank of Canada raised its stake in CVB Financial Corp. by 404.1% in the first quarter. Royal Bank of Canada now owns 14,201 shares of the financial services provider’s stock worth $248,000 after buying an additional 11,384 shares during the period. Finally, Mariner Wealth Advisors LLC acquired a new stake in CVB Financial Corp. during the first quarter worth about $485,000. 65.43% of the stock is owned by hedge funds and other institutional investors.
Shares of CVB Financial Corp. (NASDAQ:CVBF) traded up 0.64% during midday trading on Friday, hitting $17.24. 232,106 shares of the stock were exchanged. The firm has a market cap of $1.86 billion, a P/E ratio of 17.61 and a beta of 1.56. The firm has a 50 day moving average of $17.44 and a 200 day moving average of $17.03. CVB Financial Corp. has a 12-month low of $14.02 and a 12-month high of $18.77.
CVB Financial Corp. (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. CVB Financial Corp. had a net margin of 34.99% and a return on equity of 11.07%. During the same quarter last year, the business posted $0.25 earnings per share. Equities analysts forecast that CVB Financial Corp. will post $0.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, October 3rd. CVB Financial Corp.’s dividend payout ratio is presently 48.98%.
A number of equities research analysts have issued reports on CVBF shares. Hovde Group started coverage on shares of CVB Financial Corp. in a report on Wednesday, June 22nd. They set a “market perform” rating and a $17.00 target price on the stock. Zacks Investment Research upgraded shares of CVB Financial Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. DA Davidson reiterated a “hold” rating and set a $18.00 target price on shares of CVB Financial Corp. in a report on Monday, September 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of CVB Financial Corp. from $17.00 to $18.00 and gave the stock a “market perform” rating in a report on Tuesday, September 27th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. CVB Financial Corp. has an average rating of “Hold” and a consensus price target of $18.25.
In related news, CEO Christopher D. Myers sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $17.08, for a total value of $427,000.00. Following the completion of the sale, the chief executive officer now directly owns 355,052 shares in the company, valued at $6,064,288.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David A. Brager sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $17.08, for a total transaction of $136,640.00. Following the completion of the sale, the executive vice president now owns 25,113 shares of the company’s stock, valued at $428,930.04. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.
CVB Financial Corp. Company Profile
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
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