State of Alaska Department of Revenue raised its position in shares of CVB Financial Corp. (NASDAQ:CVBF) by 195.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,669 shares of the financial services provider’s stock after purchasing an additional 67,878 shares during the period. State of Alaska Department of Revenue owned 0.07% of CVB Financial worth $2,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVBF. BlackRock Inc. raised its stake in shares of CVB Financial by 6.7% during the 2nd quarter. BlackRock Inc. now owns 17,150,254 shares of the financial services provider’s stock worth $360,668,000 after purchasing an additional 1,073,027 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of CVB Financial by 776.2% during the 2nd quarter. Wells Fargo & Company MN now owns 912,035 shares of the financial services provider’s stock worth $19,180,000 after purchasing an additional 807,947 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of CVB Financial during the 2nd quarter worth about $10,735,000. Citadel Advisors LLC raised its stake in shares of CVB Financial by 69.3% during the 2nd quarter. Citadel Advisors LLC now owns 1,247,249 shares of the financial services provider’s stock worth $26,229,000 after purchasing an additional 510,413 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of CVB Financial by 91.0% during the 2nd quarter. Renaissance Technologies LLC now owns 498,494 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 237,500 shares in the last quarter. 64.19% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on CVBF shares. ValuEngine raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. BidaskClub raised CVB Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 6th. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a report on Friday, July 19th. Finally, Zacks Investment Research lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Monday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. CVB Financial currently has an average rating of “Hold” and a consensus target price of $23.33.

Shares of NASDAQ CVBF traded up $0.05 during mid-day trading on Wednesday, reaching $20.08. 1,092 shares of the company traded hands, compared to its average volume of 578,977. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $2.85 billion, a PE ratio of 16.15 and a beta of 1.07. The company’s fifty day moving average is $20.80 and its two-hundred day moving average is $21.06. CVB Financial Corp. has a fifty-two week low of $19.21 and a fifty-two week high of $23.51.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. The business had revenue of $129.26 million for the quarter, compared to analyst estimates of $121.72 million. CVB Financial had a return on equity of 10.02% and a net margin of 37.43%. During the same quarter in the prior year, the firm posted $0.32 EPS. Research analysts forecast that CVB Financial Corp. will post 1.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Wednesday, October 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Tuesday, October 1st. CVB Financial’s dividend payout ratio (DPR) is currently 58.06%.

In other CVB Financial news, CEO Christopher D. Myers sold 4,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.04, for a total value of $101,384.00. Following the sale, the chief executive officer now owns 229,557 shares of the company’s stock, valued at approximately $5,059,436.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.50% of the company’s stock.

CVB Financial Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. 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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