Maryland State Retirement & Pension System Buys 3,541 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Maryland State Retirement & Pension System boosted its holdings in CVB Financial Corp. (NASDAQ:CVBFGet Rating) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,327 shares of the financial services provider’s stock after acquiring an additional 3,541 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CVB Financial were worth $1,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVBF. Allspring Global Investments Holdings LLC bought a new stake in CVB Financial in the fourth quarter valued at about $43,562,000. American Century Companies Inc. increased its stake in CVB Financial by 16,455.8% in the fourth quarter. American Century Companies Inc. now owns 1,800,778 shares of the financial services provider’s stock valued at $38,555,000 after acquiring an additional 1,789,901 shares during the period. Goldman Sachs Group Inc. increased its stake in CVB Financial by 29.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,119,949 shares of the financial services provider’s stock valued at $88,208,000 after acquiring an additional 942,421 shares during the period. JPMorgan Chase & Co. increased its stake in CVB Financial by 283.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,177,571 shares of the financial services provider’s stock valued at $25,212,000 after acquiring an additional 870,737 shares during the period. Finally, Millennium Management LLC increased its stake in CVB Financial by 1,116.9% in the third quarter. Millennium Management LLC now owns 705,133 shares of the financial services provider’s stock valued at $14,364,000 after acquiring an additional 647,186 shares during the period. 68.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVB Financial stock opened at $24.75 on Thursday. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 17.55 and a beta of 0.37. CVB Financial Corp. has a 1-year low of $18.72 and a 1-year high of $25.22. The firm’s 50-day moving average price is $23.99 and its two-hundred day moving average price is $23.14.

CVB Financial (NASDAQ:CVBFGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $124.10 million for the quarter, compared to analysts’ expectations of $120.00 million. CVB Financial had a net margin of 40.95% and a return on equity of 9.39%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, equities analysts expect that CVB Financial Corp. will post 1.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change from CVB Financial’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, June 29th. CVB Financial’s dividend payout ratio is presently 51.06%.

Separately, StockNews.com cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 23rd.

In related news, Director Kristina M. Leslie sold 6,400 shares of the stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $23.58, for a total value of $150,912.00. Following the transaction, the director now directly owns 21,889 shares in the company, valued at $516,142.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anna Kan sold 7,000 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $24.20, for a total transaction of $169,400.00. Following the completion of the transaction, the director now owns 24,975 shares in the company, valued at $604,395. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by corporate insiders.

CVB Financial Company Profile (Get Rating)

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.

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

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