Teacher Retirement System of Texas Takes $377,000 Position in CVB Financial Corporation (NASDAQ:CVBF)

Teacher Retirement System of Texas bought a new position in CVB Financial Corporation (NASDAQ:CVBF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,421 shares of the financial services provider's stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also modified their holdings of CVBF. Proficio Capital Partners LLC acquired a new position in shares of CVB Financial in the 4th quarter worth approximately $699,000. Raymond James Financial Inc. acquired a new position in shares of CVB Financial in the 4th quarter worth approximately $9,483,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CVB Financial by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,367 shares of the financial services provider's stock worth $821,000 after acquiring an additional 2,021 shares in the last quarter. Swiss National Bank boosted its holdings in shares of CVB Financial by 0.8% in the 4th quarter. Swiss National Bank now owns 274,700 shares of the financial services provider's stock worth $5,881,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of CVB Financial by 13.1% in the 4th quarter. Natixis Advisors LLC now owns 30,071 shares of the financial services provider's stock worth $644,000 after acquiring an additional 3,488 shares in the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Stock Down 0.0%

NASDAQ:CVBF traded down $0.01 during trading hours on Friday, hitting $21.08. 948,543 shares of the stock were exchanged, compared to its average volume of 822,546. The company's 50 day moving average is $19.53 and its two-hundred day moving average is $19.41. CVB Financial Corporation has a twelve month low of $16.01 and a twelve month high of $24.58. The company has a market capitalization of $2.90 billion, a P/E ratio of 14.54 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. CVB Financial had a return on equity of 9.32% and a net margin of 30.24%. The firm had revenue of $126.67 million for the quarter, compared to the consensus estimate of $124.45 million. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities research analysts expect that CVB Financial Corporation will post 1.41 EPS for the current year.

CVB Financial Announces Dividend

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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, July 10th. CVB Financial's dividend payout ratio is 55.17%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Monday, April 28th.

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.