State of New Jersey Common Pension Fund D Buys 786 Shares of CVB Financial Corporation $CVBF

State of New Jersey Common Pension Fund D boosted its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,285 shares of the financial services provider’s stock after purchasing an additional 786 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of CVB Financial worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVBF. AlphaQuest LLC bought a new position in shares of CVB Financial during the first quarter valued at approximately $27,000. Brooklyn Investment Group boosted its stake in CVB Financial by 240,700.0% in the first quarter. Brooklyn Investment Group now owns 2,408 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 2,407 shares in the last quarter. Quarry LP boosted its stake in CVB Financial by 877.3% in the first quarter. Quarry LP now owns 3,010 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 2,702 shares in the last quarter. GAMMA Investing LLC boosted its stake in CVB Financial by 13.5% in the second quarter. GAMMA Investing LLC now owns 5,765 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 685 shares in the last quarter. Finally, Maseco LLP acquired a new stake in shares of CVB Financial in the 2nd quarter worth $116,000. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Trading Down 1.0%

NASDAQ:CVBF opened at $18.37 on Friday. CVB Financial Corporation has a 12 month low of $16.01 and a 12 month high of $24.58. The stock has a 50 day moving average of $19.38 and a two-hundred day moving average of $19.34. The firm has a market cap of $2.53 billion, a P/E ratio of 12.58 and a beta of 0.67.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. CVB Financial had a net margin of 31.95% and a return on equity of 9.18%. The company had revenue of $128.58 million during the quarter, compared to analysts’ expectations of $131.10 million. On average, research analysts forecast that CVB Financial Corporation will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Wednesday, October 1st were issued a $0.20 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 4.4%. CVB Financial’s dividend payout ratio is currently 54.79%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of CVB Financial from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of CVB Financial in a research note on Tuesday, October 14th. Finally, Piper Sandler lifted their price objective on CVB Financial from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Insider Buying and Selling

In related news, Director Anna Kan sold 11,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $20.35, for a total transaction of $223,850.00. Following the completion of the transaction, the director owned 31,593 shares of the company’s stock, valued at approximately $642,917.55. This trade represents a 25.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George A. Borba, Jr. acquired 53,567 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were bought at an average cost of $18.67 per share, with a total value of $1,000,095.89. Following the transaction, the director directly owned 718,688 shares in the company, valued at $13,417,904.96. This trade represents a 8.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.10% of the company’s stock.

CVB Financial 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.