New York State Teachers Retirement System Trims Stake in CVB Financial Corp. (NASDAQ:CVBF)

New York State Teachers Retirement System decreased its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 4.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,666 shares of the financial services provider’s stock after selling 1,700 shares during the period. New York State Teachers Retirement System’s holdings in CVB Financial were worth $699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of CVB Financial during the 3rd quarter valued at $8,653,000. Jacobs Asset Management LLC purchased a new stake in CVB Financial in the 3rd quarter worth $4,455,000. Charles Schwab Investment Management Inc. increased its stake in CVB Financial by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,952,354 shares of the financial services provider’s stock worth $88,251,000 after buying an additional 181,769 shares in the last quarter. Barclays PLC grew its position in shares of CVB Financial by 79.5% during the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock valued at $5,186,000 after purchasing an additional 128,869 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of CVB Financial by 87.6% during the third quarter. Thrivent Financial for Lutherans now owns 213,159 shares of the financial services provider’s stock valued at $3,798,000 after purchasing an additional 99,554 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVBF shares. Keefe, Bruyette & Woods lifted their price target on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler decreased their price target on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Stephens cut their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.20.

CVB Financial Stock Performance

Shares of CVBF stock opened at $19.83 on Monday. The firm has a market cap of $2.77 billion, a P/E ratio of 13.77 and a beta of 0.50. The firm’s 50 day moving average price is $20.90 and its 200-day moving average price is $20.06. CVB Financial Corp. has a one year low of $15.71 and a one year high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. As a group, research analysts predict that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s dividend payout ratio is presently 55.56%.

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.