CVB Financial Corp. (CVBF) to Post FY2019 Earnings of $1.46 Per Share, FIG Partners Forecasts
CVB Financial Corp. (NASDAQ:CVBF) – Analysts at FIG Partners increased their FY2019 earnings per share (EPS) estimates for CVB Financial in a report released on Wednesday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will earn $1.46 per share for the year, up from their prior forecast of $1.28.
A number of other analysts also recently commented on CVBF. Zacks Investment Research raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. ValuEngine raised CVB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Piper Jaffray Companies reissued a “hold” rating on shares of CVB Financial in a research note on Friday, October 6th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $24.00 price objective on shares of CVB Financial in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $23.17.
CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.27 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.27. CVB Financial had a return on equity of 10.89% and a net margin of 35.60%. The company had revenue of $81.78 million for the quarter, compared to the consensus estimate of $81.78 million. During the same quarter in the previous year, the business earned $0.23 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of CVB Financial by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 9,771,495 shares of the financial services provider’s stock worth $219,175,000 after acquiring an additional 365,996 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of CVB Financial by 7.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,778,792 shares of the financial services provider’s stock worth $84,759,000 after acquiring an additional 274,617 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CVB Financial by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,208,139 shares of the financial services provider’s stock worth $77,539,000 after acquiring an additional 8,238 shares during the last quarter. Northern Trust Corp grew its holdings in shares of CVB Financial by 3.3% in the 2nd quarter. Northern Trust Corp now owns 2,361,525 shares of the financial services provider’s stock worth $52,969,000 after acquiring an additional 76,345 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of CVB Financial by 2.5% in the 2nd quarter. Principal Financial Group Inc. now owns 798,079 shares of the financial services provider’s stock worth $17,901,000 after acquiring an additional 19,537 shares during the last quarter. Institutional investors and hedge funds own 69.36% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 22nd. Investors of record on Friday, January 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, January 4th. CVB Financial’s payout ratio is 53.85%.
WARNING: This piece was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/05/cvb-financial-corp-cvbf-to-post-fy2019-earnings-of-1-46-per-share-fig-partners-forecasts.html.
CVB Financial 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.
Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.