Wellington Management Group LLP Buys 483,844 Shares of CVB Financial Corp. (NASDAQ:CVBF)

Wellington Management Group LLP lifted its position in CVB Financial Corp. (NASDAQ:CVBF - Free Report) by 99.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 969,415 shares of the financial services provider's stock after purchasing an additional 483,844 shares during the period. Wellington Management Group LLP owned about 0.69% of CVB Financial worth $20,755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVBF. Nomura Asset Management Co. Ltd. grew its position in shares of 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. Summit Investment Advisors Inc. lifted its holdings in CVB Financial by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,861 shares of the financial services provider's stock worth $297,000 after buying an additional 880 shares during the period. Blue Trust Inc. boosted its position in CVB Financial by 17.7% during the 4th quarter. Blue Trust Inc. now owns 6,108 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 918 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of CVB Financial by 5.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,475 shares of the financial services provider's stock worth $417,000 after acquiring an additional 1,054 shares during the period. Finally, KBC Group NV raised its position in shares of 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 acquiring an additional 1,556 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price target 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 Stock Up 1.0%

Shares of CVBF stock traded up $0.18 during trading hours on Tuesday, hitting $18.57. 2,129,673 shares of the company's stock traded hands, compared to its average volume of 818,246. The stock's fifty day simple moving average is $18.43 and its two-hundred day simple moving average is $20.09. 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 12.90 and a beta of 0.65.

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 (EPS) for the quarter, beating 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 business had revenue of $126.67 million during the quarter, compared to analysts' expectations of $124.45 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, equities analysts forecast that CVB Financial Corp. will post 1.41 earnings per share for the current fiscal year.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 2nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Wednesday, April 2nd. CVB Financial's dividend payout ratio is presently 55.17%.

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.