CVB Financial (NASDAQ:CVBF) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02, Bloomberg Earnings reports. CVB Financial had a return on equity of 11.06% and a net margin of 31.70%. During the same period last year, the company posted $0.26 EPS.
Shares of NASDAQ CVBF opened at $22.18 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.02. CVB Financial has a fifty-two week low of $19.58 and a fifty-two week high of $25.49. The stock has a market cap of $2,462.08, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.82 and a beta of 1.38.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Wednesday, April 4th. CVB Financial’s dividend payout ratio (DPR) is presently 52.34%.
In other news, CEO Christopher D. Myers sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $23.85, for a total transaction of $477,000.00. Following the sale, the chief executive officer now owns 327,336 shares of the company’s stock, valued at approximately $7,806,963.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is currently owned by company insiders.
CVBF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $26.00 price target on shares of CVB Financial in a research report on Thursday, March 1st. Hovde Group set a $25.00 price target on CVB Financial and gave the company a “hold” rating in a research report on Wednesday, February 28th. Zacks Investment Research lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 25th. Sandler O’Neill reissued a “hold” rating and set a $24.00 target price on shares of CVB Financial in a research report on Thursday, January 4th. Finally, BidaskClub raised CVB Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. CVB Financial presently has a consensus rating of “Hold” and an average price target of $24.17.
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CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, trust, and investment services for small to mid-sized businesses and individuals. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers various deposit products, including checking, savings, money market, and time certificates of deposit for business and personal accounts, as well as serves as a federal tax depository for business customers.
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