Illinois Municipal Retirement Fund Sells 1,355 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Illinois Municipal Retirement Fund cut its position in CVB Financial Corp. (NASDAQ:CVBF) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 73,668 shares of the financial services provider’s stock after selling 1,355 shares during the period. Illinois Municipal Retirement Fund’s holdings in CVB Financial were worth $1,487,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVBF. American Century Companies Inc. increased its stake in shares of CVB Financial by 44.1% in the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock valued at $65,244,000 after buying an additional 1,204,090 shares during the period. Charles Schwab Investment Management Inc. increased its position in CVB Financial by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,594,323 shares of the financial services provider’s stock valued at $59,558,000 after acquiring an additional 213,038 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CVB Financial by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 2,094,313 shares of the financial services provider’s stock valued at $34,703,000 after acquiring an additional 183,583 shares during the last quarter. Clifford Capital Partners LLC lifted its holdings in shares of CVB Financial by 3.9% during the third quarter. Clifford Capital Partners LLC now owns 898,699 shares of the financial services provider’s stock worth $14,891,000 after purchasing an additional 33,859 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of CVB Financial by 904.1% during the third quarter. Victory Capital Management Inc. now owns 416,953 shares of the financial services provider’s stock worth $6,909,000 after purchasing an additional 375,426 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Price Performance

Shares of NASDAQ:CVBF opened at $16.48 on Friday. CVB Financial Corp. has a 1 year low of $10.66 and a 1 year high of $21.77. The business’s 50-day moving average is $16.98 and its 200-day moving average is $17.70. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 10.84 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $126.57 million for the quarter, compared to analyst estimates of $127.46 million. CVB Financial had a return on equity of 10.94% and a net margin of 30.93%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts anticipate that CVB Financial Corp. will post 1.43 EPS for the current year.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.85%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is presently 52.63%.

Insiders Place Their Bets

In related news, Director George A. Borba, Jr. purchased 59,601 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO E Allen Nicholson bought 2,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $16.77 per share, with a total value of $33,540.00. Following the completion of the transaction, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at $1,548,038.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 63,601 shares of company stock worth $1,067,145. 6.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVBF has been the subject of a number of recent research reports. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a report on Monday, April 22nd. Keefe, Bruyette & Woods decreased their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Friday. Wedbush reaffirmed a “neutral” rating and issued a $19.00 price objective on shares of CVB Financial in a research note on Thursday. StockNews.com raised shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Stephens restated an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.00.

CVB Financial 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.