Two Sigma Investments LP Sells 177,328 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Two Sigma Investments LP lowered its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 56.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,206 shares of the financial services provider's stock after selling 177,328 shares during the quarter. Two Sigma Investments LP owned approximately 0.10% of CVB Financial worth $2,916,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its position in shares of CVB Financial by 80.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 720 shares during the period. Summit Investment Advisors Inc. raised its position in shares of CVB Financial by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,861 shares of the financial services provider's stock valued at $297,000 after purchasing an additional 880 shares during the period. Blue Trust Inc. raised its position in shares of CVB Financial by 17.7% in the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider's stock valued at $131,000 after purchasing an additional 918 shares during the period. Pictet Asset Management Holding SA raised its position in shares of CVB Financial by 5.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,475 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 1,054 shares during the period. Finally, KBC Group NV raised its position in shares of CVB Financial by 35.0% in the fourth quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 1,556 shares during the period. Institutional investors and hedge funds own 74.18% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th.

CVB Financial Stock Performance

NASDAQ:CVBF traded down $0.02 during mid-day trading on Wednesday, reaching $18.55. 755,936 shares of the company's stock were exchanged, compared to its average volume of 819,091. CVB Financial Corp. has a one year low of $15.91 and a one year high of $24.58. The firm has a market capitalization of $2.56 billion, a PE ratio of 12.88 and a beta of 0.65. The business's fifty day simple moving average is $18.43 and its two-hundred day simple moving average is $20.07.

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

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio is 55.17%.

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.