$82.03 Million in Sales Expected for CVB Financial Corp. (CVBF) This Quarter

Brokerages expect CVB Financial Corp. (NASDAQ:CVBF) to report sales of $82.03 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for CVB Financial’s earnings, with estimates ranging from $80.00 million to $83.10 million. CVB Financial posted sales of $74.16 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.6%. The business is expected to issue its next earnings results after the market closes on Wednesday, April 18th.

According to Zacks, analysts expect that CVB Financial will report full year sales of $82.03 million for the current year, with estimates ranging from $359.00 million to $415.30 million. For the next financial year, analysts expect that the company will post sales of $490.20 million per share, with estimates ranging from $468.00 million to $509.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover CVB Financial.

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CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $83.86 million during the quarter, compared to analyst estimates of $82.00 million. CVB Financial had a net margin of 31.70% and a return on equity of 11.06%. During the same quarter in the previous year, the firm earned $0.25 earnings per share.

A number of analysts recently issued reports on CVBF shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 price target on shares of CVB Financial in a research note on Thursday, March 1st. Hovde Group set a $25.00 target price on shares of CVB Financial and gave the company a “hold” rating in a research note on Wednesday, February 28th. Zacks Investment Research lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Monday, December 25th. Sandler O’Neill reiterated a “hold” rating and set a $24.00 target price on shares of CVB Financial in a research note on Thursday, January 4th. Finally, BidaskClub upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.17.

Shares of NASDAQ:CVBF traded down $0.12 during midday trading on Monday, reaching $22.10. The company had a trading volume of 359,020 shares, compared to its average volume of 378,248. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2,449.96, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. CVB Financial has a one year low of $19.58 and a one year high of $25.49.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, April 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $0.56 annualized dividend and a yield of 2.53%. CVB Financial’s payout ratio is 52.34%.

In other CVB Financial news, CEO Christopher D. Myers sold 20,000 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $23.85, for a total transaction of $477,000.00. Following the completion of the sale, the chief executive officer now owns 327,336 shares in the company, valued at $7,806,963.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.00% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank grew its position in shares of CVB Financial by 2.2% during the fourth quarter. Swiss National Bank now owns 176,400 shares of the financial services provider’s stock worth $4,156,000 after acquiring an additional 3,800 shares during the last quarter. Comerica Bank grew its position in shares of CVB Financial by 8.9% during the fourth quarter. Comerica Bank now owns 140,658 shares of the financial services provider’s stock worth $3,388,000 after acquiring an additional 11,449 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of CVB Financial during the third quarter worth about $670,000. California Public Employees Retirement System grew its position in shares of CVB Financial by 11.7% during the third quarter. California Public Employees Retirement System now owns 131,172 shares of the financial services provider’s stock worth $3,170,000 after acquiring an additional 13,772 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of CVB Financial by 6.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 591,001 shares of the financial services provider’s stock worth $13,924,000 after acquiring an additional 33,256 shares during the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.

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About CVB Financial

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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Earnings History and Estimates for CVB Financial (NASDAQ:CVBF)

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