Equities research analysts expect CVB Financial Corp. (NASDAQ:CVBF) to post earnings of $0.33 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for CVB Financial’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.37. CVB Financial posted earnings of $0.28 per share in the same quarter last year, which suggests a positive year over year growth rate of 17.9%. The firm is expected to announce its next earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that CVB Financial will report full-year earnings of $1.27 per share for the current fiscal year, with EPS estimates ranging from $1.23 to $1.31. For the next financial year, analysts anticipate that the company will report earnings of $1.46 per share, with EPS estimates ranging from $1.37 to $1.52. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CVB Financial.
CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). The business had revenue of $103.43 million during the quarter, compared to analyst estimates of $102.47 million. CVB Financial had a net margin of 34.92% and a return on equity of 11.11%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share.
A number of equities analysts recently issued reports on CVBF shares. BidaskClub downgraded CVB Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 25th. Wedbush reaffirmed a “neutral” rating on shares of CVB Financial in a report on Monday, July 16th. Zacks Investment Research raised CVB Financial from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, September 18th. Finally, Hovde Group set a $25.00 price target on CVB Financial and gave the company a “hold” rating in a report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.10.
Hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of CVB Financial by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 652,102 shares of the financial services provider’s stock valued at $14,621,000 after acquiring an additional 40,758 shares during the period. Northern Trust Corp grew its stake in shares of CVB Financial by 0.9% during the second quarter. Northern Trust Corp now owns 2,348,953 shares of the financial services provider’s stock worth $52,663,000 after buying an additional 21,711 shares during the last quarter. Aperio Group LLC grew its stake in shares of CVB Financial by 40.5% during the second quarter. Aperio Group LLC now owns 41,843 shares of the financial services provider’s stock worth $938,000 after buying an additional 12,058 shares during the last quarter. UBS Group AG grew its stake in shares of CVB Financial by 5.8% during the first quarter. UBS Group AG now owns 70,136 shares of the financial services provider’s stock worth $1,588,000 after buying an additional 3,860 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of CVB Financial by 6.3% during the first quarter. Legal & General Group Plc now owns 218,229 shares of the financial services provider’s stock worth $4,948,000 after buying an additional 12,866 shares during the last quarter. 70.17% of the stock is owned by institutional investors and hedge funds.
CVBF traded up $0.03 on Wednesday, reaching $22.47. The company’s stock had a trading volume of 38,783 shares, compared to its average volume of 819,677. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. CVB Financial has a fifty-two week low of $19.50 and a fifty-two week high of $25.49.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Wednesday, October 3rd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Tuesday, October 2nd. CVB Financial’s payout ratio is currently 52.34%.
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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