Squarepoint Ops LLC Cuts Stock Holdings in CVB Financial Corporation $CVBF

Squarepoint Ops LLC lowered its stake in shares of CVB Financial Corporation (NASDAQ:CVBF) by 67.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,862 shares of the financial services provider’s stock after selling 81,020 shares during the quarter. Squarepoint Ops LLC’s holdings in CVB Financial were worth $876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nykredit A S purchased a new stake in shares of CVB Financial in the second quarter valued at about $43,000. Larson Financial Group LLC grew its position in CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,791 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in CVB Financial by 40.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 695 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in CVB Financial in the 2nd quarter valued at about $53,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in CVB Financial in the 2nd quarter valued at about $77,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Price Performance

Shares of CVBF opened at $22.70 on Friday. CVB Financial Corporation has a twelve month low of $17.94 and a twelve month high of $23.41. The company has a market capitalization of $4.00 billion, a P/E ratio of 15.66 and a beta of 0.64. The firm has a 50 day moving average of $22.62 and a 200 day moving average of $21.16. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to analysts’ expectations of $184.62 million. CVB Financial had a net margin of 29.02% and a return on equity of 9.21%. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that CVB Financial Corporation will post 1.74 earnings per share for the current fiscal year.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 30th. CVB Financial’s payout ratio is 55.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stephens upgraded CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 target price on the stock in a research note on Thursday, August 6th. Wall Street Zen upgraded CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Piper Sandler raised their price objective on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, DA Davidson increased their target price on shares of CVB Financial from $22.50 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.25.

Insider Activity at CVB Financial

In related news, Director Brien Raymond V. O. III bought 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the purchase, the director directly owned 85,780 shares of the company’s stock, valued at $1,953,210.60. This represents a 30.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mike Maddox acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was purchased at an average price of $22.03 per share, with a total value of $220,300.00. Following the transaction, the director owned 13,138 shares of the company’s stock, valued at approximately $289,430.14. This trade represents a 318.67% increase in their position. The SEC filing for this purchase provides additional information. 6.40% of the stock is currently owned by corporate insiders.

About CVB Financial

CVB Financial Corp. is the bank holding company for Citizens Business Bank, a commercial bank headquartered in Ontario, California. Founded in 1974, the company provides banking and financial services primarily to businesses, professionals, individuals and public-sector organizations throughout California.

Citizens Business Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration loans, agricultural lending and consumer credit products.