Illinois Municipal Retirement Fund Has $1.50 Million Position in CVB Financial Corp. (NASDAQ:CVBF)

Illinois Municipal Retirement Fund lowered its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,944 shares of the financial services provider’s stock after selling 4,760 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.05% of CVB Financial worth $1,498,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVBF. Wellington Management Group LLP acquired a new stake in CVB Financial during the third quarter worth approximately $8,653,000. Jacobs Asset Management LLC acquired a new stake in CVB Financial during the third quarter worth approximately $4,455,000. Charles Schwab Investment Management Inc. grew its position in CVB Financial by 3.8% during the third 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 CVB Financial by 79.5% during the third quarter. Barclays PLC now owns 291,011 shares of the financial services provider’s stock worth $5,186,000 after buying an additional 128,869 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in 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 worth $3,798,000 after buying an additional 99,554 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CVBF shares. Stephens reduced their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.20.

CVB Financial Price Performance

NASDAQ CVBF opened at $20.17 on Friday. The business has a fifty day moving average price of $20.68 and a two-hundred day moving average price of $20.15. CVB Financial Corp. has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The stock has a market capitalization of $2.82 billion, a PE ratio of 14.01 and a beta of 0.50.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is 55.56%.

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.