Zacks: Analysts Expect CVB Financial Corporation (CVBF) Will Post Earnings of $0.27 Per Share
Wall Street analysts expect CVB Financial Corporation (NASDAQ:CVBF) to post earnings of $0.27 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for CVB Financial Corporation’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. CVB Financial Corporation posted earnings of $0.25 per share during the same quarter last year, which suggests a positive year over year growth rate of 8%. The firm is scheduled to announce its next earnings results on Wednesday, January 17th.
According to Zacks, analysts expect that CVB Financial Corporation will report full-year earnings of $1.06 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $1.08. For the next fiscal year, analysts expect that the company will post earnings of $1.13 per share, with EPS estimates ranging from $1.10 to $1.17. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow CVB Financial Corporation.
CVB Financial Corporation (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. CVB Financial Corporation had a return on equity of 10.89% and a net margin of 35.60%. The business had revenue of $81.78 million for the quarter, compared to the consensus estimate of $81.78 million. During the same period in the prior year, the business earned $0.23 EPS.
Several brokerages have commented on CVBF. Zacks Investment Research upgraded shares of CVB Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday. ValuEngine upgraded shares of CVB Financial Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Wedbush restated a “neutral” rating and issued a $22.00 price objective on shares of CVB Financial Corporation in a report on Tuesday, June 27th. Piper Jaffray Companies restated a “hold” rating on shares of CVB Financial Corporation in a report on Friday, October 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $23.00 price objective on shares of CVB Financial Corporation in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. CVB Financial Corporation currently has a consensus rating of “Hold” and an average target price of $22.60.
CVB Financial Corporation (CVBF) traded up 0.84% on Tuesday, reaching $24.08. The company had a trading volume of 231,391 shares. CVB Financial Corporation has a one year low of $16.32 and a one year high of $25.25. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 23.94 and a beta of 1.56. The company’s 50 day moving average is $22.66 and its 200-day moving average is $21.75.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Wednesday, October 4th were issued a dividend of $0.14 per share. The ex-dividend date was Tuesday, October 3rd. This represents a $0.56 annualized dividend and a dividend yield of 2.33%. CVB Financial Corporation’s payout ratio is 53.85%.
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In other CVB Financial Corporation news, Director Anna Kan bought 4,660 shares of the stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the acquisition, the director now owns 17,660 shares of the company’s stock, valued at $379,690. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.00% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio raised its holdings in CVB Financial Corporation by 12.5% in the 2nd quarter. Strs Ohio now owns 4,500 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 500 shares during the last quarter. Cutler Capital Management LLC raised its holdings in CVB Financial Corporation by 10.3% in the 2nd quarter. Cutler Capital Management LLC now owns 6,000 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 558 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in CVB Financial Corporation by 54.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,491 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 2,291 shares during the last quarter. D.A. Davidson & CO. raised its holdings in CVB Financial Corporation by 29.3% in the 2nd quarter. D.A. Davidson & CO. now owns 7,056 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Gradient Investments LLC raised its holdings in CVB Financial Corporation by 9.0% in the 2nd quarter. Gradient Investments LLC now owns 7,302 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.
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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