Teacher Retirement System of Texas Makes New $377,000 Investment in CVB Financial Corporation (NASDAQ:CVBF)

Teacher Retirement System of Texas purchased a new position in shares of CVB Financial Corporation (NASDAQ:CVBF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,421 shares of the financial services provider's stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in CVB Financial by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,405 shares of the financial services provider's stock worth $136,116,000 after acquiring an additional 162,422 shares in the last quarter. Capital Research Global Investors bought a new stake in CVB Financial during the fourth quarter worth $94,382,000. Parallel Advisors LLC raised its position in 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 in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in CVB Financial by 15.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,334,354 shares of the financial services provider's stock worth $49,979,000 after acquiring an additional 317,418 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of CVB Financial by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,681,961 shares of the financial services provider's stock valued at $36,011,000 after purchasing an additional 21,510 shares during the period. 74.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price objective on shares of 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 Performance

NASDAQ:CVBF traded down $0.26 during mid-day trading on Monday, reaching $20.82. 1,243,132 shares of the company's stock were exchanged, compared to its average volume of 822,886. CVB Financial Corporation has a one year low of $16.01 and a one year high of $24.58. The firm has a market capitalization of $2.87 billion, a PE ratio of 14.36 and a beta of 0.67. The business's fifty day simple moving average is $19.57 and its two-hundred day simple moving average is $19.38.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly 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 net margin of 30.24% and a return on equity of 9.32%. The business had revenue of $126.67 million for the quarter, compared to analyst estimates of $124.45 million. During the same period last year, the firm earned $0.35 earnings per share. As a group, equities research analysts forecast that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a yield of 3.84%. CVB Financial's payout ratio is 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.