CVB Financial Corp. (NASDAQ:CVBF) – Stock analysts at Piper Jaffray Companies raised their FY2018 EPS estimates for CVB Financial in a research note issued on Sunday, June 24th. Piper Jaffray Companies analyst M. Clark now forecasts that the financial services provider will earn $1.27 per share for the year, up from their prior forecast of $1.26.
CVBF has been the topic of several other research reports. BidaskClub raised shares of CVB Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Zacks Investment Research cut shares of CVB Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Sandler O’Neill reaffirmed a “hold” rating and set a $24.00 target price on shares of CVB Financial in a research note on Thursday, March 29th. Finally, Hovde Group set a $24.00 target price on shares of CVB Financial and gave the stock a “hold” rating in a research note on Monday, April 23rd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.00.
Shares of CVBF opened at $23.25 on Wednesday. CVB Financial has a 52-week low of $19.58 and a 52-week high of $25.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.95 and a beta of 1.39.
CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, April 18th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. CVB Financial had a net margin of 32.71% and a return on equity of 11.61%. The company had revenue of $83.44 million for the quarter, compared to analysts’ expectations of $82.03 million. During the same quarter in the previous year, the company posted $0.26 EPS.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 19th. Stockholders of record on Thursday, July 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, July 3rd. This represents a $0.56 annualized dividend and a dividend yield of 2.41%. CVB Financial’s dividend payout ratio is presently 52.34%.
In related news, Director Jr. Rodrigo Guerra purchased 5,000 shares of CVB Financial stock in a transaction dated Monday, April 30th. The shares were acquired at an average price of $22.46 per share, for a total transaction of $112,300.00. Following the acquisition, the director now directly owns 11,000 shares in the company, valued at $247,060. The purchase was disclosed in a filing with the SEC, which is available through this link. 6.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. raised its holdings in shares of CVB Financial by 1.6% during the 1st quarter. Prudential Financial Inc. now owns 172,163 shares of the financial services provider’s stock worth $3,898,000 after acquiring an additional 2,700 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of CVB Financial by 2.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 137,363 shares of the financial services provider’s stock worth $3,110,000 after acquiring an additional 2,746 shares during the period. Comerica Bank raised its holdings in shares of CVB Financial by 2.5% during the 1st quarter. Comerica Bank now owns 144,137 shares of the financial services provider’s stock worth $3,193,000 after acquiring an additional 3,479 shares during the period. Swiss National Bank raised its holdings in shares of CVB Financial by 2.2% during the 4th 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 period. Finally, Profund Advisors LLC raised its holdings in shares of CVB Financial by 25.2% during the 1st quarter. Profund Advisors LLC now owns 19,098 shares of the financial services provider’s stock worth $432,000 after acquiring an additional 3,838 shares during the period. Institutional investors and hedge funds own 69.62% of the company’s stock.
About CVB Financial
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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