Tower Research Capital LLC TRC Has $114,000 Position in CVB Financial Corp. (NASDAQ:CVBF)

Tower Research Capital LLC TRC trimmed its position in CVB Financial Corp. (NASDAQ:CVBF) by 73.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,312 shares of the financial services provider’s stock after selling 14,950 shares during the period. Tower Research Capital LLC TRC’s holdings in CVB Financial were worth $114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in 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 worth $35,000 after purchasing an additional 720 shares during the period. Summit Investment Advisors Inc. raised its stake in CVB Financial by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,861 shares of the financial services provider’s stock worth $297,000 after buying an additional 880 shares during the period. Blue Trust Inc. lifted its holdings in CVB Financial by 17.7% during the fourth quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 918 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in 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 acquiring an additional 1,054 shares during the period. Finally, KBC Group NV increased its holdings 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 worth $129,000 after acquiring an additional 1,556 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Stephens decreased their price objective on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Piper Sandler reduced their price target on shares of CVB Financial from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, CVB Financial currently has a consensus rating of “Hold” and an average price target of $23.50.

CVB Financial Price Performance

CVBF stock opened at $19.25 on Friday. The business has a 50-day moving average of $18.30 and a 200-day moving average of $20.26. CVB Financial Corp. has a fifty-two week low of $15.75 and a fifty-two week high of $24.58. The stock has a market capitalization of $2.68 billion, a P/E ratio of 13.37 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $126.67 million during the quarter, compared to analysts’ expectations 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 last year, the business earned $0.35 EPS. Equities analysts expect 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. Shareholders of record on Wednesday, April 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.15%. CVB Financial’s dividend payout ratio (DPR) is presently 55.17%.

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.