Louisiana State Employees Retirement System Purchases Shares of 56,500 CVB Financial Corporation $CVBF

Louisiana State Employees Retirement System acquired a new position in CVB Financial Corporation (NASDAQ:CVBF) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 56,500 shares of the financial services provider’s stock, valued at approximately $1,096,000.

Several other hedge funds have also modified their holdings of CVBF. Aster Capital Management DIFC Ltd boosted its position in shares of CVB Financial by 8,940.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,967 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in CVB Financial during the 4th quarter valued at $42,000. Larson Financial Group LLC increased its position in CVB Financial by 288.9% during the fourth quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,791 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in CVB Financial during the second quarter valued at $103,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of CVB Financial in the fourth quarter valued at $127,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVBF has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of CVB Financial from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Stephens reaffirmed an “equal weight” rating and set a $23.00 target price on shares of CVB Financial in a research note on Tuesday, June 16th. Weiss Ratings upgraded CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 10th. Finally, Raymond James Financial raised CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.30.

CVB Financial Stock Performance

NASDAQ:CVBF opened at $22.81 on Friday. The firm has a 50-day simple moving average of $20.78 and a 200-day simple moving average of $20.11. CVB Financial Corporation has a one year low of $17.94 and a one year high of $23.34. The firm has a market cap of $4.03 billion, a P/E ratio of 15.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.73 and a current ratio of 0.73.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. During the same period last year, the company posted $0.36 earnings per share. Equities analysts anticipate that CVB Financial Corporation will post 1.63 EPS for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, July 9th. CVB Financial’s payout ratio is presently 52.63%.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. bought 50,242 shares of CVB Financial stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $19.90 per share, for a total transaction of $999,815.80. Following the completion of the acquisition, the director owned 796,024 shares of the company’s stock, valued at $15,840,877.60. This trade represents a 6.74% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.40% of the stock is owned by company insiders.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.