Equities analysts expect that CVB Financial Corp. (NASDAQ:CVBF) will post sales of $81.70 million for the current quarter, according to Zacks. Five analysts have issued estimates for CVB Financial’s earnings. The highest sales estimate is $82.30 million and the lowest is $81.20 million. CVB Financial posted sales of $81.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The firm is expected to report its next earnings report after the market closes on Wednesday, July 18th.
According to Zacks, analysts expect that CVB Financial will report full year sales of $385.16 million for the current year, with estimates ranging from $361.80 million to $402.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $481.28 million per share, with estimates ranging from $461.50 million to $496.40 million. Zacks’ sales averages are an average based on a survey of analysts that cover CVB Financial.
CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, April 18th. The financial services provider reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $83.44 million during the quarter, compared to analyst estimates of $82.03 million. CVB Financial had a return on equity of 11.61% and a net margin of 32.71%. During the same quarter last year, the company earned $0.26 EPS.
A number of analysts have commented on the company. Zacks Investment Research lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. BidaskClub lowered CVB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. Sandler O’Neill reissued a “hold” rating and issued a $24.00 target price on shares of CVB Financial in a report on Thursday, March 29th. Finally, Hovde Group set a $24.00 target price on CVB Financial and gave the stock a “hold” rating in a report on Monday, April 23rd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $24.40.
Shares of CVB Financial traded down $0.13, reaching $22.61, on Wednesday, MarketBeat reports. The company’s stock had a trading volume of 292,943 shares, compared to its average volume of 474,443. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.90 and a beta of 1.42. CVB Financial has a 52 week low of $19.58 and a 52 week high of $25.49. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.02.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 19th. Investors of record on Thursday, July 5th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, July 3rd. CVB Financial’s payout ratio is currently 52.34%.
In other news, Director Jr. Rodrigo Guerra acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The stock was bought at an average price of $22.46 per share, with a total value of $112,300.00. Following the completion of the acquisition, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $247,060. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CVBF. Prudential Financial Inc. lifted its position in CVB Financial by 1.6% during the first quarter. Prudential Financial Inc. now owns 172,163 shares of the financial services provider’s stock valued at $3,898,000 after purchasing an additional 2,700 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in CVB Financial by 2.0% during the first quarter. Great West Life Assurance Co. Can now owns 137,363 shares of the financial services provider’s stock valued at $3,110,000 after purchasing an additional 2,746 shares in the last quarter. Comerica Bank lifted its position in CVB Financial by 2.5% during the first quarter. Comerica Bank now owns 144,137 shares of the financial services provider’s stock valued at $3,193,000 after purchasing an additional 3,479 shares in the last quarter. Swiss National Bank lifted its position in CVB Financial by 2.2% during the fourth quarter. Swiss National Bank now owns 176,400 shares of the financial services provider’s stock valued at $4,156,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in CVB Financial by 25.2% during the first quarter. Profund Advisors LLC now owns 19,098 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 3,838 shares in the last quarter. 69.62% of the stock is owned by institutional investors.
CVB Financial Company Profile
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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