66,200 Shares in CVB Financial Corp. (NASDAQ:CVBF) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in CVB Financial Corp. (NASDAQ:CVBF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 66,200 shares of the financial services provider's stock, valued at approximately $1,337,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVBF. Raymond James & Associates raised its position in CVB Financial by 2.5% in the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider's stock worth $719,000 after acquiring an additional 854 shares during the period. Covestor Ltd raised its position in CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider's stock worth $145,000 after acquiring an additional 885 shares during the period. Equitable Trust Co. raised its position in CVB Financial by 6.5% in the fourth quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider's stock worth $561,000 after acquiring an additional 1,705 shares during the period. Natixis Advisors L.P. raised its position in CVB Financial by 10.1% in the third quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider's stock worth $343,000 after acquiring an additional 1,905 shares during the period. Finally, Swiss National Bank raised its position in CVB Financial by 1.0% in the third quarter. Swiss National Bank now owns 306,200 shares of the financial services provider's stock worth $5,074,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 74.18% of the company's stock.

Insider Transactions at CVB Financial

In related news, CEO David A. Brager purchased 2,000 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average price of $16.75 per share, with a total value of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares in the company, valued at approximately $2,559,634.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director George A. Borba, Jr. purchased 59,601 shares of the company's stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David A. Brager acquired 2,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the purchase, the chief executive officer now directly owns 152,814 shares in the company, valued at $2,559,634.50. The disclosure for this purchase can be found here. Insiders have acquired 63,601 shares of company stock valued at $1,067,145 in the last three months. 6.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVBF has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of CVB Financial from $22.00 to $20.00 and set a "market perform" rating for the company in a research note on Friday, January 26th. StockNews.com raised shares of CVB Financial to a "sell" rating in a research note on Friday, January 5th. Hovde Group cut shares of CVB Financial from an "outperform" rating to a "market perform" rating and set a $18.00 price objective for the company. in a research note on Monday. Finally, Wedbush cut their price target on shares of CVB Financial from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, CVB Financial presently has an average rating of "Hold" and a consensus price target of $20.00.

CVB Financial Stock Performance

NASDAQ:CVBF traded down $0.16 during midday trading on Monday, reaching $16.47. 797,021 shares of the stock traded hands, compared to its average volume of 898,451. The company has a fifty day moving average of $17.01 and a 200 day moving average of $17.70. CVB Financial Corp. has a 12 month low of $10.66 and a 12 month high of $21.77. The stock has a market capitalization of $2.30 billion, a P/E ratio of 10.36 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The company had revenue of $138.52 million during the quarter, compared to analyst estimates of $134.88 million. On average, analysts predict that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.86%. CVB Financial's dividend payout ratio (DPR) is presently 50.31%.

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.