Everence Capital Management Inc. Has $435,000 Stake in CVB Financial Corp. (NASDAQ:CVBF)

Everence Capital Management Inc. boosted its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF) by 36.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,560 shares of the financial services provider’s stock after buying an additional 5,790 shares during the period. Everence Capital Management Inc.’s holdings in CVB Financial were worth $435,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVBF. Morgan Stanley increased its position in CVB Financial by 172.4% during the fourth quarter. Morgan Stanley now owns 3,718,134 shares of the financial services provider’s stock worth $95,742,000 after buying an additional 2,353,360 shares during the last quarter. State Street Corp increased its position in CVB Financial by 29.9% during the second quarter. State Street Corp now owns 8,084,109 shares of the financial services provider’s stock worth $107,357,000 after buying an additional 1,861,050 shares during the last quarter. BlackRock Inc. increased its position in CVB Financial by 7.7% during the first quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock worth $483,284,000 after buying an additional 1,487,960 shares during the last quarter. American Century Companies Inc. increased its position in CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after buying an additional 1,204,090 shares during the last quarter. Finally, Norges Bank acquired a new position in CVB Financial during the fourth quarter worth $29,578,000. 74.18% of the stock is owned by institutional investors and hedge funds.

CVB Financial Stock Up 0.6 %

Shares of CVBF opened at $15.85 on Thursday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 9.97 and a beta of 0.46. CVB Financial Corp. has a 12 month low of $10.66 and a 12 month high of $21.77. The company has a 50-day moving average price of $17.07 and a two-hundred day moving average price of $17.68.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $138.52 million during the quarter, compared to analysts’ expectations of $134.88 million. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. Equities research analysts expect that CVB Financial Corp. will post 1.49 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is 50.31%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVBF. StockNews.com raised CVB Financial to a “sell” rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods lowered their price target on CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. Finally, Wedbush decreased their target price on CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.67.

Insiders Place Their Bets

In other news, CFO E Allen Nicholson bought 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the purchase, the chief financial officer now owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO E Allen Nicholson bought 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the purchase, the chief financial officer now owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the purchase, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders acquired a total of 63,601 shares of company stock worth $1,067,145 over the last quarter. Company insiders own 6.00% of the company’s stock.

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.