CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 97.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,080 shares of the financial services provider's stock after selling 691,871 shares during the period. Public Employees Retirement Association of Colorado's holdings in CVB Financial were worth $409,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its position in shares of CVB Financial by 80.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of CVB Financial during the fourth quarter worth $53,000. Sterling Capital Management LLC raised its position in shares of CVB Financial by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after buying an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in CVB Financial by 144.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after acquiring an additional 2,597 shares during the last quarter. Finally, KBC Group NV boosted its position in CVB Financial by 35.0% during the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after acquiring an additional 1,556 shares during the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVBF shares. Stephens decreased their target price on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Piper Sandler lowered their price objective on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $23.50.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $19.08 on Friday. The company has a market capitalization of $2.65 billion, a P/E ratio of 13.25 and a beta of 0.62. The company has a 50 day simple moving average of $18.39 and a 200-day simple moving average of $20.27. CVB Financial Corp. has a 1 year low of $15.75 and a 1 year high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its earnings results 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. The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $124.45 million. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, research analysts expect that CVB Financial Corp. will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.19%. CVB Financial's payout ratio is currently 55.17%.

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.

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