Maryland State Retirement & Pension System Has $971,000 Stock Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Maryland State Retirement & Pension System lowered its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 48,109 shares of the financial services provider’s stock after selling 650 shares during the period. Maryland State Retirement & Pension System’s holdings in CVB Financial were worth $971,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates lifted its holdings in 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 buying an additional 854 shares during the period. Covestor Ltd boosted its holdings in CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 885 shares during the last quarter. Equitable Trust Co. increased its position in CVB Financial by 6.5% during the 4th quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 1,705 shares during the period. Strs Ohio bought a new position in CVB Financial during the 4th quarter worth approximately $36,000. Finally, Natixis Advisors L.P. lifted its position in shares of CVB Financial by 10.1% in the 3rd quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 1,905 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Trading Up 0.3 %

NASDAQ CVBF opened at $17.23 on Friday. The company has a fifty day simple moving average of $16.93 and a 200 day simple moving average of $17.75. 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 $2.41 billion, a P/E ratio of 11.34 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Sell-side analysts predict that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s payout ratio is currently 52.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVBF shares. Wedbush reissued a “neutral” rating and set a $19.00 target price on shares of CVB Financial in a research note on Thursday, April 25th. Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday, April 22nd. Keefe, Bruyette & Woods cut their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Finally, Stephens reiterated an “equal weight” rating and issued a $20.00 target price on shares of CVB Financial in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.00.

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.