Public Employees Retirement Association of Colorado Acquires 83,900 Shares of CVB Financial Corp. (CVBF)

Public Employees Retirement Association of Colorado increased its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 750,051 shares of the financial services provider’s stock after acquiring an additional 83,900 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.68% of CVB Financial worth $16,741,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in CVB Financial by 6.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 652,102 shares of the financial services provider’s stock worth $14,621,000 after acquiring an additional 40,758 shares during the period. Northern Trust Corp increased its holdings in CVB Financial by 0.9% in the 2nd quarter. Northern Trust Corp now owns 2,348,953 shares of the financial services provider’s stock valued at $52,663,000 after buying an additional 21,711 shares during the period. Aperio Group LLC increased its holdings in CVB Financial by 40.5% in the 2nd quarter. Aperio Group LLC now owns 41,843 shares of the financial services provider’s stock valued at $938,000 after buying an additional 12,058 shares during the period. Legal & General Group Plc increased its holdings in CVB Financial by 6.3% in the 1st quarter. Legal & General Group Plc now owns 218,229 shares of the financial services provider’s stock valued at $4,948,000 after buying an additional 12,866 shares during the period. Finally, UBS Group AG increased its holdings in CVB Financial by 5.8% in the 1st quarter. UBS Group AG now owns 70,136 shares of the financial services provider’s stock valued at $1,588,000 after buying an additional 3,860 shares during the period. 70.05% of the stock is currently owned by institutional investors and hedge funds.

CVBF stock opened at $21.67 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.72 and a current ratio of 0.81. CVB Financial Corp. has a 12 month low of $19.50 and a 12 month high of $25.49. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.69 and a beta of 1.38.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). CVB Financial had a net margin of 34.92% and a return on equity of 11.11%. The firm had revenue of $103.43 million during the quarter, compared to the consensus estimate of $102.47 million. During the same period in the prior year, the business earned $0.27 earnings per share. CVB Financial’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities research analysts forecast that CVB Financial Corp. will post 1.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 3rd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.58%. The ex-dividend date was Tuesday, October 2nd. CVB Financial’s dividend payout ratio is currently 52.34%.

Several equities analysts have commented on CVBF shares. BidaskClub lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 25th. Wedbush reissued a “neutral” rating on shares of CVB Financial in a report on Monday, July 16th. Zacks Investment Research raised shares of CVB Financial from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Tuesday, September 18th. Finally, Hovde Group set a $25.00 target price on shares of CVB Financial and gave the company a “hold” rating in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $25.10.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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Institutional Ownership by Quarter for CVB Financial (NASDAQ:CVBF)

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