$0.27 EPS Expected for CVB Financial Corporation (CVBF) This Quarter
Brokerages expect that CVB Financial Corporation (NASDAQ:CVBF) will report $0.27 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for CVB Financial Corporation’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.28. CVB Financial Corporation reported earnings per share of $0.23 during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.4%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 18th.
On average, analysts expect that CVB Financial Corporation will report full-year earnings of $1.06 per share for the current year, with EPS estimates ranging from $1.05 to $1.08. For the next fiscal year, analysts forecast that the company will report earnings of $1.13 per share, with EPS estimates ranging from $1.10 to $1.16. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow CVB Financial Corporation.
CVB Financial Corporation (NASDAQ:CVBF) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. CVB Financial Corporation had a net margin of 35.33% and a return on equity of 10.67%. The company had revenue of $81.26 million during the quarter, compared to analysts’ expectations of $80.10 million. During the same quarter last year, the business earned $0.23 EPS.
CVBF has been the subject of several research analyst reports. ValuEngine downgraded shares of CVB Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised shares of CVB Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Wedbush reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of CVB Financial Corporation in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $23.00 price objective on shares of CVB Financial Corporation in a report on Friday, August 4th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $23.00 price objective on shares of CVB Financial Corporation in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. CVB Financial Corporation currently has a consensus rating of “Hold” and an average target price of $22.60.
CVB Financial Corporation (NASDAQ CVBF) traded up 1.41% during mid-day trading on Thursday, hitting $23.72. 390,008 shares of the stock traded hands. CVB Financial Corporation has a 1-year low of $16.32 and a 1-year high of $25.25. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 23.58 and a beta of 1.57. The stock has a 50-day moving average of $21.61 and a 200 day moving average of $21.56.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Wednesday, October 4th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.36%. The ex-dividend date is Tuesday, October 3rd. CVB Financial Corporation’s payout ratio is currently 56.00%.
In related news, Director Anna Kan acquired 4,660 shares of CVB Financial Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $21.50 per share, with a total value of $100,190.00. Following the completion of the acquisition, the director now directly owns 17,660 shares of the company’s stock, valued at approximately $379,690. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in CVB Financial Corporation by 1.0% in the 2nd quarter. Bank of Montreal Can now owns 8,246 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 85 shares during the last quarter. Gamble Jones Investment Counsel lifted its holdings in CVB Financial Corporation by 0.6% in the 2nd quarter. Gamble Jones Investment Counsel now owns 53,660 shares of the financial services provider’s stock valued at $1,204,000 after acquiring an additional 300 shares during the last quarter. Aperio Group LLC lifted its holdings in CVB Financial Corporation by 1.1% in the 2nd quarter. Aperio Group LLC now owns 28,853 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 328 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in CVB Financial Corporation by 1.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 22,980 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 410 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in CVB Financial Corporation by 3.2% in the 2nd quarter. Amalgamated Bank now owns 14,125 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 438 shares during the last quarter. 67.33% of the stock is owned by institutional investors.
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About CVB Financial Corporation
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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