Analysts Anticipate CVB Financial Corporation (CVBF) Will Announce Quarterly Sales of $81.78 Million
Equities analysts predict that CVB Financial Corporation (NASDAQ:CVBF) will report sales of $81.78 million for the current quarter, according to Zacks. Four analysts have provided estimates for CVB Financial Corporation’s earnings. The highest sales estimate is $84.20 million and the lowest is $80.40 million. CVB Financial Corporation reported sales of $72.34 million during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The firm is scheduled to issue its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that CVB Financial Corporation will report full year sales of $81.78 million for the current year, with estimates ranging from $316.90 million to $326.40 million. For the next financial year, analysts expect that the business will report sales of $346.25 million per share, with estimates ranging from $338.10 million to $356.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover CVB Financial Corporation.
CVB Financial Corporation (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. The business had revenue of $81.26 million during the quarter, compared to the consensus estimate of $80.10 million. During the same period in the previous year, the company posted $0.23 earnings per share.
A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 target price on shares of CVB Financial Corporation in a research note on Friday, August 4th. Zacks Investment Research upgraded CVB Financial Corporation from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, July 24th. BidaskClub lowered CVB Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Wedbush reiterated a “neutral” rating and issued a $22.00 target price on shares of CVB Financial Corporation in a research note on Tuesday, June 27th. Finally, Piper Jaffray Companies lowered their target price on CVB Financial Corporation from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. CVB Financial Corporation currently has an average rating of “Hold” and a consensus price target of $21.50.
CVB Financial Corporation (CVBF) opened at 20.62 on Friday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 20.50 and a beta of 1.51. The stock’s 50 day moving average price is $21.90 and its 200-day moving average price is $22.01. CVB Financial Corporation has a 12 month low of $16.32 and a 12 month high of $24.63.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from CVB Financial Corporation’s previous quarterly dividend of $0.12. CVB Financial Corporation’s dividend payout ratio (DPR) is 56.00%.
In other CVB Financial Corporation news, Director Anna Kan acquired 4,660 shares of the stock in a transaction on Thursday, August 3rd. The stock was purchased at an average price of $21.50 per share, for a total transaction of $100,190.00. Following the purchase, the director now directly owns 17,660 shares in the company, valued at $379,690. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Strs Ohio raised its stake in shares of CVB Financial Corporation by 12.5% in the second quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock worth $100,000 after buying an additional 500 shares during the period. Cutler Capital Management LLC acquired a new stake in shares of CVB Financial Corporation during the first quarter worth $120,000. Riverhead Capital Management LLC raised its stake in shares of CVB Financial Corporation by 54.5% in the second quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock worth $146,000 after buying an additional 2,291 shares during the period. D.A. Davidson & CO. raised its stake in shares of CVB Financial Corporation by 29.3% in the second quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock worth $158,000 after buying an additional 1,600 shares during the period. Finally, Gradient Investments LLC raised its stake in shares of CVB Financial Corporation by 9.0% in the second quarter. Gradient Investments LLC now owns 7,302 shares of the financial services provider’s stock worth $164,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 67.79% of the company’s stock.
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CVB Financial Corporation Company Profile
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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