CVB Financial Corp. (NASDAQ:CVBF) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP cut its holdings in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 49.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,600 shares of the financial services provider's stock after selling 73,600 shares during the period. Two Sigma Advisers LP owned 0.05% of CVB Financial worth $1,597,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors acquired a new stake in CVB Financial during the 4th quarter worth $94,382,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of CVB Financial in the fourth quarter valued at about $31,064,000. Norges Bank purchased a new stake in shares of CVB Financial in the fourth quarter valued at about $27,724,000. Victory Capital Management Inc. boosted its stake in shares of CVB Financial by 210.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,487,997 shares of the financial services provider's stock worth $31,858,000 after buying an additional 1,009,146 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of CVB Financial by 99.6% during the fourth quarter. Wellington Management Group LLP now owns 969,415 shares of the financial services provider's stock worth $20,755,000 after buying an additional 483,844 shares during the last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

CVB Financial Stock Performance

CVBF traded down $0.07 during trading on Friday, hitting $18.81. The stock had a trading volume of 1,028,054 shares, compared to its average volume of 812,333. The firm has a market capitalization of $2.59 billion, a P/E ratio of 13.06 and a beta of 0.65. CVB Financial Corp. has a twelve month low of $15.91 and a twelve month high of $24.58. The company's 50-day moving average price is $18.44 and its 200 day moving average price is $20.15.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $126.67 million for the quarter, compared to analyst estimates of $124.45 million. CVB Financial had a net margin of 29.32% and a return on equity of 9.35%. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, equities analysts expect that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.25%. The ex-dividend date was Wednesday, April 2nd. CVB Financial's payout ratio is 55.17%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price objective on CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Monday, April 28th.

CVB Financial Company 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.