Millennium Management LLC Has $2.69 Million Position in CVB Financial Corp. (NASDAQ:CVBF)

Millennium Management LLC decreased its stake in shares of CVB Financial Corp. (NASDAQ:CVBF) by 36.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 156,205 shares of the financial services provider’s stock after selling 88,419 shares during the period. Millennium Management LLC owned 0.11% of CVB Financial worth $2,693,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC increased its position in CVB Financial by 466.7% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,400 shares in the last quarter. Versant Capital Management Inc raised its holdings in CVB Financial by 832.8% during the second quarter. Versant Capital Management Inc now owns 1,763 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,574 shares during the last quarter. Innealta Capital LLC acquired a new position in CVB Financial during the second quarter worth $38,000. WBI Investments LLC acquired a new position in CVB Financial during the second quarter worth $177,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of CVB Financial by 9,211.9% in the first quarter. Russell Investments Group Ltd. now owns 12,571 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 12,436 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVBF shares. Stephens increased their target price on shares of CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Wedbush lowered their target price on shares of CVB Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $20.00 to $22.00 in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.25.

CVB Financial Stock Performance

CVBF stock opened at $19.41 on Wednesday. The firm has a market cap of $2.71 billion, a PE ratio of 12.77 and a beta of 0.45. The firm has a fifty day moving average price of $17.71 and a 200 day moving average price of $17.32. CVB Financial Corp. has a fifty-two week low of $14.62 and a fifty-two week high of $21.77.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The business had revenue of $125.27 million during the quarter, compared to the consensus estimate of $126.86 million. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts predict that CVB Financial Corp. will post 1.4 EPS for the current year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio is presently 52.63%.

CVB Financial 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.