Teacher Retirement System of Texas Cuts Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Teacher Retirement System of Texas reduced its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 47.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,833 shares of the financial services provider’s stock after selling 22,302 shares during the quarter. Teacher Retirement System of Texas’ holdings in CVB Financial were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Raymond James & Associates boosted its position in CVB Financial by 2.5% during the fourth quarter. Raymond James & Associates now owns 35,598 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 854 shares in the last quarter. Covestor Ltd raised its stake in shares of CVB Financial by 11.2% during the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock worth $145,000 after buying an additional 885 shares during the period. Equitable Trust Co. lifted its position in shares of CVB Financial by 6.5% during the 4th quarter. Equitable Trust Co. now owns 27,779 shares of the financial services provider’s stock valued at $561,000 after buying an additional 1,705 shares in the last quarter. Strs Ohio acquired a new stake in CVB Financial in the 4th quarter valued at $36,000. Finally, Natixis Advisors L.P. increased its holdings in CVB Financial by 10.1% in the 3rd quarter. Natixis Advisors L.P. now owns 20,727 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 1,905 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

CVB Financial Price Performance

NASDAQ:CVBF opened at $16.30 on Monday. The company’s 50-day moving average is $16.87 and its two-hundred day moving average is $17.84. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 10.72 and a beta of 0.47. CVB Financial Corp. has a 1-year low of $11.83 and a 1-year high of $21.77.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. As a group, equities analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is presently 52.63%.

Analyst Ratings Changes

A number of research firms have recently commented on CVBF. Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price target on shares of CVB Financial in a research note on Thursday, April 25th. Wedbush reissued a “neutral” rating and issued a $19.00 price objective on shares of CVB Financial in a research note on Thursday, April 25th. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods dropped their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, CVB Financial currently has an average rating of “Hold” and an average price target of $19.00.

CVB Financial Company 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.