Tower Research Capital LLC TRC Sells 14,950 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Tower Research Capital LLC TRC trimmed its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 73.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,312 shares of the financial services provider's stock after selling 14,950 shares during the quarter. Tower Research Capital LLC TRC's holdings in CVB Financial were worth $114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its stake in shares of CVB Financial by 80.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,620 shares of the financial services provider's stock worth $35,000 after purchasing an additional 720 shares in the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of CVB Financial in the 4th quarter worth $53,000. Sterling Capital Management LLC increased its stake in shares of CVB Financial by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock worth $89,000 after purchasing an additional 3,719 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of CVB Financial by 144.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after purchasing an additional 2,597 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of CVB Financial by 35.0% in the 4th quarter. KBC Group NV now owns 6,005 shares of the financial services provider's stock worth $129,000 after purchasing an additional 1,556 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

CVB Financial Stock Up 4.0%

CVBF stock traded up $0.77 during trading on Monday, reaching $19.95. The company's stock had a trading volume of 562,181 shares, compared to its average volume of 808,255. CVB Financial Corp. has a 1 year low of $15.75 and a 1 year high of $24.58. The company has a market capitalization of $2.77 billion, a P/E ratio of 13.85 and a beta of 0.65. The company's fifty day moving average is $18.30 and its 200-day moving average is $20.27.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $124.45 million. During the same quarter in the prior year, the firm earned $0.35 EPS. Analysts anticipate that CVB Financial Corp. will post 1.41 earnings per share for the current year.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Wednesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Analyst Ratings Changes

A number of brokerages have issued reports on CVBF. Stephens cut their price target on CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. Piper Sandler cut their price target 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, CVB Financial presently has an average rating of "Hold" and a consensus price target of $23.50.

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.