CVB Financial Corp. (NASDAQ:CVBF) Stake Cut by Voloridge Investment Management LLC

Voloridge Investment Management LLC trimmed its holdings in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 46.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 244,192 shares of the financial services provider's stock after selling 208,469 shares during the period. Voloridge Investment Management LLC owned 0.17% of CVB Financial worth $5,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CVBF. Nomura Asset Management Co. Ltd. boosted its stake in 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 buying an additional 720 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in CVB Financial in the 4th quarter worth about $53,000. Sterling Capital Management LLC boosted its stake in 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 buying an additional 3,719 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in 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 buying an additional 2,597 shares during the last quarter. Finally, KBC Group NV boosted its stake in 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 buying an additional 1,556 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CVB Financial Trading Down 0.4%

CVBF traded down $0.07 during trading on Friday, reaching $18.81. 1,028,054 shares of the company were exchanged, compared to its average volume of 812,333. The stock has a market cap of $2.59 billion, a P/E ratio of 13.06 and a beta of 0.65. The firm has a 50 day moving average of $18.44 and a 200 day moving average of $20.13. CVB Financial Corp. has a 52 week low of $15.91 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $126.67 million during the quarter, compared to analyst estimates of $124.45 million. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. As a group, analysts forecast that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Wednesday, April 2nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.25%. The ex-dividend date was Wednesday, April 2nd. CVB Financial's dividend payout ratio is currently 55.17%.

CVB Financial Company Profile

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.