485,571 Shares in CVB Financial Corp. (NASDAQ:CVBF) Acquired by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in shares of CVB Financial Corp. (NASDAQ:CVBF - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 485,571 shares of the financial services provider's stock, valued at approximately $8,653,000. Wellington Management Group LLP owned approximately 0.35% of CVB Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in CVB Financial during the third quarter worth approximately $27,000. nVerses Capital LLC raised its position in CVB Financial by 466.7% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,400 shares during the last quarter. Innealta Capital LLC acquired a new stake in CVB Financial during the 2nd quarter worth $38,000. GAMMA Investing LLC grew its position in CVB Financial by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $78,000 after purchasing an additional 780 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in CVB Financial in the third quarter valued at $107,000. 74.18% of the stock is owned by hedge funds and other institutional investors.

CVB Financial Stock Up 1.4 %

Shares of CVB Financial stock traded up $0.32 during trading on Monday, reaching $23.03. The company's stock had a trading volume of 752,827 shares, compared to its average volume of 823,972. The business has a 50 day moving average price of $21.29 and a 200-day moving average price of $18.84. CVB Financial Corp. has a 12-month low of $15.71 and a 12-month high of $24.58. The company has a market capitalization of $3.22 billion, a P/E ratio of 15.88 and a beta of 0.49.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The business had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%. The business's revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Research analysts predict that CVB Financial Corp. will post 1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVBF shares. Wedbush reiterated a "neutral" rating and set a $20.00 target price on shares of CVB Financial in a research note on Thursday, October 24th. Piper Sandler decreased their price objective on CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods boosted their target price on CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.80.

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.