CVB Financial Corp. (CVBF) to Post FY2018 Earnings of $1.30 Per Share, FIG Partners Forecasts

CVB Financial Corp. (NASDAQ:CVBF) – Equities researchers at FIG Partners boosted their FY2018 EPS estimates for shares of CVB Financial in a research note issued to investors on Monday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings of $1.30 per share for the year, up from their prior forecast of $1.29. FIG Partners also issued estimates for CVB Financial’s Q4 2018 earnings at $0.33 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.35 EPS and Q3 2019 earnings at $0.36 EPS.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. CVB Financial had a net margin of 31.70% and a return on equity of 11.06%. The firm had revenue of $83.86 million for the quarter, compared to analysts’ expectations of $82.00 million. During the same period in the prior year, the firm earned $0.25 earnings per share.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of CVB Financial from a “sell” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, January 2nd. BidaskClub cut shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Jaffray Companies reaffirmed a “hold” rating on shares of CVB Financial in a research note on Friday, October 6th. Sandler O’Neill reaffirmed a “hold” rating and issued a $24.00 price objective on shares of CVB Financial in a research note on Thursday, January 4th. Finally, ValuEngine lowered shares of CVB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. CVB Financial currently has a consensus rating of “Hold” and an average target price of $23.17.

CVB Financial (CVBF) traded up $0.12 on Thursday, hitting $23.52. 132,015 shares of the stock traded hands, compared to its average volume of 386,083. CVB Financial has a twelve month low of $19.58 and a twelve month high of $25.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $2,580.00, a PE ratio of 21.92, a P/E/G ratio of 1.98 and a beta of 1.50.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in CVB Financial by 3.9% in the second quarter. Vanguard Group Inc. now owns 9,771,495 shares of the financial services provider’s stock valued at $219,175,000 after purchasing an additional 365,996 shares in the last quarter. Walthausen & Co. LLC bought a new position in shares of CVB Financial in the 3rd quarter valued at about $7,099,000. Goldman Sachs Group Inc. grew its position 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 valued at $84,759,000 after acquiring an additional 274,617 shares during the period. New York State Common Retirement Fund grew its position in shares of CVB Financial by 78.0% in the 3rd quarter. New York State Common Retirement Fund now owns 194,700 shares of the financial services provider’s stock valued at $4,706,000 after acquiring an additional 85,300 shares during the period. Finally, Northern Trust Corp grew its position 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 valued at $52,969,000 after acquiring an additional 76,345 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Friday, January 5th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, January 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.38%. CVB Financial’s payout ratio is 52.34%.

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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.

Earnings History and Estimates for CVB Financial (NASDAQ:CVBF)

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