Analysts expect CVB Financial Corp. (NASDAQ:CVBF) to announce earnings per share of $0.38 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for CVB Financial’s earnings. The highest EPS estimate is $0.38 and the lowest is $0.37. CVB Financial posted earnings of $0.30 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 26.7%. The company is expected to issue its next quarterly earnings results on Wednesday, October 23rd.
On average, analysts expect that CVB Financial will report full year earnings of $1.50 per share for the current financial year, with EPS estimates ranging from $1.49 to $1.51. For the next fiscal year, analysts anticipate that the business will post earnings of $1.50 per share, with EPS estimates ranging from $1.44 to $1.59. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow CVB Financial.
CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $129.26 million during the quarter, compared to the consensus estimate of $121.72 million. CVB Financial had a net margin of 37.43% and a return on equity of 10.02%. During the same period in the prior year, the company earned $0.32 EPS.
Several research firms have issued reports on CVBF. Zacks Investment Research upgraded CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Janney Montgomery Scott downgraded CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a report on Friday, July 19th. ValuEngine downgraded CVB Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. FIG Partners downgraded CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, April 25th. Finally, BidaskClub upgraded CVB Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. CVB Financial presently has a consensus rating of “Hold” and an average target price of $24.25.
NASDAQ CVBF traded down $0.26 on Friday, hitting $20.38. 17,397 shares of the company were exchanged, compared to its average volume of 692,244. The company’s 50 day moving average price is $21.05. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.48 and a beta of 1.07. CVB Financial has a twelve month low of $19.21 and a twelve month high of $24.97.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 3rd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.72 annualized dividend and a yield of 3.53%. CVB Financial’s payout ratio is presently 58.06%.
In other CVB Financial news, CEO Christopher D. Myers sold 4,600 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.04, for a total transaction of $101,384.00. Following the sale, the chief executive officer now owns 229,557 shares in the company, valued at approximately $5,059,436.28. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.50% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. CWM Advisors LLC purchased a new stake in CVB Financial in the second quarter worth $212,000. Strs Ohio boosted its stake in CVB Financial by 142.2% during the second quarter. Strs Ohio now owns 10,900 shares of the financial services provider’s stock valued at $229,000 after buying an additional 6,400 shares during the period. Everence Capital Management Inc. bought a new stake in CVB Financial during the first quarter valued at $290,000. Sciencast Management LP bought a new stake in CVB Financial during the first quarter valued at $378,000. Finally, SG Americas Securities LLC boosted its stake in CVB Financial by 34.7% during the second quarter. SG Americas Securities LLC now owns 25,393 shares of the financial services provider’s stock valued at $534,000 after buying an additional 6,548 shares during the period. Institutional investors own 63.54% of the company’s stock.
CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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