CVB Financial (NASDAQ:CVBF) Releases Quarterly Earnings Results, Hits Estimates

CVB Financial (NASDAQ:CVBF) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38, Zacks reports. CVB Financial had a net margin of 32.05% and a return on equity of 9.21%. The business had revenue of $132.12 million for the quarter, compared to analysts’ expectations of $162.29 million. During the same period in the previous year, the company posted $0.36 EPS.

CVB Financial Stock Down 0.7%

Shares of CVBF stock traded down $0.15 on Friday, hitting $20.06. The company’s stock had a trading volume of 304,477 shares, compared to its average volume of 1,593,297. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.72 and a quick ratio of 0.72. CVB Financial has a fifty-two week low of $17.94 and a fifty-two week high of $21.48. The firm’s fifty day moving average price is $19.71 and its 200-day moving average price is $19.51. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 13.20 and a beta of 0.65.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, April 1st. CVB Financial’s payout ratio is presently 53.33%.

Institutional Investors Weigh In On CVB Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of CVB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,281,980 shares of the financial services provider’s stock valued at $135,447,000 after purchasing an additional 171,971 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CVB Financial by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock valued at $102,092,000 after purchasing an additional 67,563 shares during the last quarter. HoldCo Asset Management LP lifted its stake in shares of CVB Financial by 17,051.0% in the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock valued at $41,366,000 after purchasing an additional 2,211,005 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of CVB Financial by 3.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock valued at $37,784,000 after purchasing an additional 74,914 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of CVB Financial by 1.0% in the 4th quarter. Wellington Management Group LLP now owns 1,075,272 shares of the financial services provider’s stock valued at $20,000,000 after purchasing an additional 10,545 shares during the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 10th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.17.

CVB Financial Company 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.