CVB Financial Corporation (NASDAQ:CVBF) issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27, Bloomberg Earnings reports. The firm had revenue of $81.78 million for the quarter, compared to analysts’ expectations of $81.78 million. CVB Financial Corporation had a net margin of 35.60% and a return on equity of 10.89%. During the same quarter last year, the company earned $0.23 earnings per share.
Shares of CVB Financial Corporation (CVBF) opened at 24.29 on Friday. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.15 and a beta of 1.57. CVB Financial Corporation has a 12 month low of $16.32 and a 12 month high of $25.25. The firm’s 50 day moving average is $22.80 and its 200 day moving average is $21.78.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 19th. Investors of record on Wednesday, October 4th were given a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, October 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. CVB Financial Corporation’s dividend payout ratio (DPR) is 53.85%.
A number of research firms have weighed in on CVBF. Keefe, Bruyette & Woods set a $23.00 price objective on shares of CVB Financial Corporation and gave the stock a “hold” rating in a report on Tuesday, July 4th. Zacks Investment Research cut shares of CVB Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub raised shares of CVB Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $23.00 price objective on shares of CVB Financial Corporation in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $23.20.
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In other news, Director Anna Kan acquired 4,660 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average price of $21.50 per share, with a total value of $100,190.00. Following the acquisition, the director now owns 17,660 shares of the company’s stock, valued at $379,690. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.00% of the stock is currently owned by company insiders.
About CVB Financial Corporation
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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