Millennium Management LLC Trims Holdings in CVB Financial Corp. (NASDAQ:CVBF)

Millennium Management LLC decreased its holdings in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 38.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 176,665 shares of the financial services provider's stock after selling 112,011 shares during the period. Millennium Management LLC owned approximately 0.13% of CVB Financial worth $3,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. boosted its position in CVB Financial by 80.0% during 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 buying an additional 720 shares during the period. Hopwood Financial Services Inc. bought a new stake in shares of CVB Financial in the 4th quarter valued at about $53,000. Sterling Capital Management LLC boosted its holdings in CVB Financial by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 4,175 shares of the financial services provider's stock valued at $89,000 after acquiring an additional 3,719 shares during the period. Smartleaf Asset Management LLC grew its position in CVB Financial by 144.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,389 shares of the financial services provider's stock worth $95,000 after acquiring an additional 2,597 shares during the last quarter. Finally, KBC Group NV grew its position in CVB Financial by 35.0% during the 4th 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 during the last quarter. Institutional investors own 74.18% of the company's stock.

CVB Financial Stock Performance

Shares of NASDAQ CVBF traded down $0.02 during trading hours on Wednesday, hitting $18.55. The company's stock had a trading volume of 755,936 shares, compared to its average volume of 819,091. CVB Financial Corp. has a 12 month low of $15.91 and a 12 month high of $24.58. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 12.88 and a beta of 0.65. The business has a 50-day simple moving average of $18.43 and a 200-day simple moving average of $20.07.

CVB Financial (NASDAQ:CVBF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. The firm had revenue of $126.67 million for the quarter, compared to analyst estimates of $124.45 million. During the same period last year, the company earned $0.35 EPS. On average, equities research analysts forecast that CVB Financial Corp. will post 1.41 EPS 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 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 was Wednesday, April 2nd. CVB Financial's payout ratio is currently 55.17%.

Wall Street Analysts Forecast Growth

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

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.