Teachers Retirement System of The State of Kentucky continued to hold its position in shares of CVB Financial Corporation (NASDAQ:CVBF) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,300 shares of the financial services provider’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in CVB Financial Corporation were worth $824,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in CVB Financial Corporation by 48,056.5% in the first quarter. BlackRock Inc. now owns 12,385,851 shares of the financial services provider’s stock valued at $273,605,000 after buying an additional 12,360,131 shares in the last quarter. Norges Bank purchased a new position in CVB Financial Corporation during the fourth quarter valued at approximately $15,996,000. State Street Corp increased its position in CVB Financial Corporation by 17.8% in the first quarter. State Street Corp now owns 3,870,952 shares of the financial services provider’s stock valued at $85,508,000 after buying an additional 586,205 shares in the last quarter. Vanguard Group Inc. increased its position in CVB Financial Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 9,405,499 shares of the financial services provider’s stock valued at $207,768,000 after buying an additional 498,140 shares in the last quarter. Finally, IronBridge Capital Management LP purchased a new position in CVB Financial Corporation during the first quarter valued at approximately $6,434,000. Hedge funds and other institutional investors own 67.92% of the company’s stock.
CVB Financial Corporation (CVBF) opened at 21.41 on Friday. The company has a 50-day moving average price of $21.97 and a 200 day moving average price of $22.14. CVB Financial Corporation has a 1-year low of $16.11 and a 1-year high of $24.63. The firm has a market capitalization of $2.36 billion, a P/E ratio of 21.85 and a beta of 1.53.
CVB Financial Corporation (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. The company had revenue of $81.26 million for the quarter, compared to the consensus estimate of $80.10 million. During the same period in the previous year, the business earned $0.23 earnings per share. Analysts expect that CVB Financial Corporation will post $1.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th were given a $0.14 dividend. This is an increase from CVB Financial Corporation’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, July 3rd. CVB Financial Corporation’s dividend payout ratio is currently 56.00%.
Several research analysts recently commented on CVBF shares. Zacks Investment Research raised CVB Financial Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods set a $23.00 price objective on CVB Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, July 4th. BidaskClub raised CVB Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Hovde Group raised CVB Financial Corporation from an “underperform” rating to a “market perform” rating and set a $21.00 price objective for the company in a research note on Friday, May 19th. Finally, Piper Jaffray Companies reduced their price objective on CVB Financial Corporation from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. CVB Financial Corporation presently has a consensus rating of “Hold” and a consensus target price of $21.67.
In other news, EVP David A. Brager sold 2,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $22.13, for a total value of $44,260.00. Following the sale, the executive vice president now directly owns 43,013 shares in the company, valued at $951,877.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.80% of the stock is owned by corporate insiders.
CVB Financial Corporation Company Profile
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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