Analysts expect CVB Financial Co. (NASDAQ:CVBF) to report earnings of $0.31 per share for the current quarter, according to Zacks. Five analysts have issued estimates for CVB Financial’s earnings, with estimates ranging from $0.30 to $0.31. CVB Financial posted earnings per share of $0.26 in the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The business is scheduled to issue its next earnings results on Wednesday, July 18th.
According to Zacks, analysts expect that CVB Financial will report full year earnings of $1.27 per share for the current year, with EPS estimates ranging from $1.25 to $1.28. For the next year, analysts expect that the business will post earnings of $1.45 per share, with EPS estimates ranging from $1.40 to $1.47. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for CVB Financial.
CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, April 18th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. CVB Financial had a return on equity of 11.61% and a net margin of 32.71%. The company had revenue of $83.44 million for the quarter, compared to analyst estimates of $82.03 million. During the same quarter last year, the firm earned $0.26 EPS.
Several analysts have recently weighed in on CVBF shares. BidaskClub raised CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised CVB Financial from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, April 5th. Hovde Group set a $25.00 price objective on CVB Financial and gave the stock a “hold” rating in a report on Wednesday, February 28th. Sandler O’Neill reissued a “hold” rating and set a $24.00 price objective on shares of CVB Financial in a report on Thursday, March 29th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.00 price objective on shares of CVB Financial in a report on Thursday, March 1st. Eight equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $24.00.
Shares of NASDAQ:CVBF opened at $23.48 on Tuesday. CVB Financial has a 1-year low of $19.58 and a 1-year high of $25.49. The company has a market cap of $2.55 billion, a PE ratio of 21.94, a PEG ratio of 1.92 and a beta of 1.39. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.02.
In related news, CEO Christopher D. Myers sold 20,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $23.85, for a total value 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 legal filing with the SEC, which is available through this link. Also, Director Jr. Rodrigo Guerra purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The stock was bought at an average cost of $22.46 per share, for a total transaction of $112,300.00. Following the purchase, the director now owns 11,000 shares in the company, valued at $247,060. The disclosure for this purchase can be found here. 6.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in CVBF. Louisiana State Employees Retirement System boosted its stake in CVB Financial by 6.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the financial services provider’s stock valued at $1,039,000 after buying an additional 2,600 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in CVB Financial by 6.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 591,001 shares of the financial services provider’s stock valued at $13,924,000 after buying an additional 33,256 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in CVB Financial by 6.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 214,263 shares of the financial services provider’s stock valued at $5,048,000 after buying an additional 13,815 shares in the last quarter. Comerica Bank boosted its stake in CVB Financial by 8.9% in the 4th quarter. Comerica Bank now owns 140,658 shares of the financial services provider’s stock valued at $3,388,000 after buying an additional 11,449 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in CVB Financial by 319.0% in the 4th quarter. Teacher Retirement System of Texas now owns 35,917 shares of the financial services provider’s stock valued at $846,000 after buying an additional 27,344 shares in the last quarter. 69.59% of the stock is currently owned by institutional investors and hedge funds.
About CVB Financial
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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