CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board reduced its stake in CVB Financial Corp. (NASDAQ:CVBF) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 278,536 shares of the financial services provider’s stock after selling 13,300 shares during the period. Public Sector Pension Investment Board owned 0.20% of CVB Financial worth $4,964,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CVBF. Allspring Global Investments Holdings LLC acquired a new position in CVB Financial during the 3rd quarter valued at approximately $27,000. nVerses Capital LLC boosted its holdings in shares of CVB Financial by 466.7% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,400 shares during the period. Versant Capital Management Inc boosted its holdings in shares of CVB Financial by 832.8% during the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,574 shares during the period. Innealta Capital LLC bought a new position in shares of CVB Financial during the second quarter worth about $38,000. Finally, GAMMA Investing LLC increased its holdings in shares of CVB Financial by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 780 shares during the period. 74.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVBF has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised CVB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Finally, Piper Sandler cut their target price on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.80.

CVB Financial Stock Performance

Shares of NASDAQ CVBF opened at $23.42 on Monday. CVB Financial Corp. has a 1 year low of $15.71 and a 1 year high of $24.58. The firm has a market cap of $3.27 billion, a P/E ratio of 16.38 and a beta of 0.44. The stock has a fifty day moving average price of $20.23 and a two-hundred day moving average price of $18.38.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million during the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. On average, research analysts predict that CVB Financial Corp. will post 1.43 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.42%. CVB Financial’s dividend payout ratio is currently 55.94%.

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.