Wellington Management Group LLP Purchases 173,984 Shares of CVB Financial Corporation $CVBF

Wellington Management Group LLP grew its position in shares of CVB Financial Corporation (NASDAQ:CVBF) by 16.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,227,820 shares of the financial services provider’s stock after purchasing an additional 173,984 shares during the quarter. Wellington Management Group LLP owned approximately 0.70% of CVB Financial worth $27,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVBF. Royal Bank of Canada raised its holdings in CVB Financial by 28.7% in the 1st quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider’s stock valued at $698,000 after buying an additional 8,432 shares during the last quarter. AQR Capital Management LLC grew its holdings in CVB Financial by 36.6% during the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 12,992 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CVB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,851 shares of the financial services provider’s stock worth $1,456,000 after acquiring an additional 3,442 shares during the last quarter. Jones Financial Companies Lllp increased its position in CVB Financial by 848.1% in the 1st quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 13,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CVB Financial by 9.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider’s stock valued at $8,458,000 after acquiring an additional 38,250 shares during the period. 74.18% of the stock is currently owned by institutional investors.

CVB Financial Stock Up 0.6%

Shares of NASDAQ CVBF opened at $22.62 on Friday. The company’s 50 day moving average price is $22.62 and its 200-day moving average price is $20.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.77 and a current ratio of 0.77. CVB Financial Corporation has a 52-week low of $17.94 and a 52-week high of $23.41. The company has a market capitalization of $3.98 billion, a P/E ratio of 15.60 and a beta of 0.64.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $184.62 million. CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.During the same quarter last year, the company earned $0.36 earnings per share. Equities analysts forecast that CVB Financial Corporation will post 1.72 earnings per share for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. CVB Financial’s dividend payout ratio (DPR) is 55.17%.

Insider Transactions at CVB Financial

In other CVB Financial news, Director Mike Maddox acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $22.03 per share, with a total value of $220,300.00. Following the purchase, the director directly owned 13,138 shares of the company’s stock, valued at $289,430.14. This trade represents a 318.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David Harvey sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $22.94, for a total value of $917,600.00. Following the sale, the chief operating officer owned 98,149 shares in the company, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVBF. Stephens upgraded shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a report on Thursday, August 6th. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Wednesday, July 1st. Piper Sandler raised their target price on CVB Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded CVB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.25.

CVB Financial Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.