CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in CVB Financial Corp. (NASDAQ:CVBF) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 93,338 shares of the financial services provider’s stock after selling 14,524 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CVB Financial were worth $1,998,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CVBF. Wellington Management Group LLP acquired a new stake in CVB Financial during the third quarter worth about $8,653,000. JPMorgan Chase & Co. raised its stake in CVB Financial by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 363,494 shares of the financial services provider’s stock worth $6,477,000 after acquiring an additional 74,004 shares during the period. Jane Street Group LLC increased its stake in shares of CVB Financial by 11.8% in the third quarter. Jane Street Group LLC now owns 136,780 shares of the financial services provider’s stock valued at $2,437,000 after purchasing an additional 14,384 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of CVB Financial by 22.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 52,358 shares of the financial services provider’s stock valued at $1,131,000 after purchasing an additional 9,600 shares during the period. Finally, Citigroup Inc. increased its stake in shares of CVB Financial by 9.8% in the third quarter. Citigroup Inc. now owns 264,663 shares of the financial services provider’s stock valued at $4,716,000 after purchasing an additional 23,682 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $19.83 on Monday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.77 and a beta of 0.50. CVB Financial Corp. has a 1-year low of $15.71 and a 1-year high of $24.58. The company has a 50 day moving average price of $20.90 and a 200 day moving average price of $20.06.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. On average, sell-side analysts expect that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Tuesday, December 31st. CVB Financial’s payout ratio is 55.56%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stephens dropped their price target on shares of CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler decreased their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.20.

About CVB Financial

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.