BNP Paribas Financial Markets Lowers Position in CVB Financial Corp. (NASDAQ:CVBF)

BNP Paribas Financial Markets cut its position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 59.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,908 shares of the financial services provider's stock after selling 39,287 shares during the quarter. BNP Paribas Financial Markets' holdings in CVB Financial were worth $576,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. lifted its position 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 valued at $35,000 after purchasing an additional 720 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in CVB Financial in the fourth quarter valued at approximately $53,000. Sterling Capital Management LLC lifted its position in CVB Financial by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in CVB Financial by 144.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock valued at $95,000 after purchasing an additional 2,597 shares during the last quarter. Finally, KBC Group NV lifted its position in 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 last quarter. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

CVB Financial Trading Up 0.9%

NASDAQ CVBF traded up $0.16 on Thursday, hitting $18.88. The company's stock had a trading volume of 675,645 shares, compared to its average volume of 809,842. CVB Financial Corp. has a 52-week low of $15.91 and a 52-week high of $24.58. The company's 50-day simple moving average is $18.44 and its 200 day simple moving average is $20.18. The firm has a market cap of $2.60 billion, a P/E ratio of 13.11 and a beta of 0.65.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings data 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. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. The business had revenue of $126.67 million during the quarter, compared to analysts' expectations of $124.45 million. During the same quarter last year, the business posted $0.35 EPS. On average, research analysts forecast that CVB Financial Corp. will post 1.41 EPS for the current fiscal year.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 2nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Wednesday, April 2nd. CVB Financial's dividend payout ratio (DPR) is currently 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.