CVB Financial Corp. (NASDAQ:CVBF) to Post Q2 2024 Earnings of $0.34 Per Share, DA Davidson Forecasts

CVB Financial Corp. (NASDAQ:CVBF) – DA Davidson issued their Q2 2024 EPS estimates for shares of CVB Financial in a note issued to investors on Friday, April 26th. DA Davidson analyst G. Tenner forecasts that the financial services provider will post earnings per share of $0.34 for the quarter. The consensus estimate for CVB Financial’s current full-year earnings is $1.41 per share. DA Davidson also issued estimates for CVB Financial’s FY2024 earnings at $1.40 EPS.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $126.57 million for the quarter, compared to analysts’ expectations of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. CVB Financial’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share.

A number of other equities analysts have also commented on CVBF. Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of CVB Financial in a research note on Thursday. Hovde Group downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target on the stock. in a research report on Monday, April 22nd. Wedbush reissued a “neutral” rating and set a $19.00 target price on shares of CVB Financial in a research note on Thursday. StockNews.com raised shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods decreased their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, CVB Financial currently has an average rating of “Hold” and an average price target of $19.00.

CVB Financial Trading Down 0.2 %

NASDAQ CVBF opened at $16.48 on Monday. The firm has a market capitalization of $2.30 billion, a PE ratio of 10.84 and a beta of 0.46. The business’s 50-day moving average price is $16.98 and its two-hundred day moving average price is $17.71. CVB Financial has a 12 month low of $10.66 and a 12 month high of $21.77.

Institutional Trading of CVB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates boosted its stake in CVB Financial by 102.3% during the 3rd quarter. Raymond James & Associates now owns 34,744 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 17,566 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of CVB Financial by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 2,094,313 shares of the financial services provider’s stock valued at $34,703,000 after buying an additional 183,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in CVB Financial by 5.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,924 shares of the financial services provider’s stock worth $1,192,000 after buying an additional 4,039 shares in the last quarter. Yousif Capital Management LLC raised its position in CVB Financial by 6.1% in the 3rd quarter. Yousif Capital Management LLC now owns 66,617 shares of the financial services provider’s stock valued at $1,104,000 after buying an additional 3,841 shares during the last quarter. Finally, Nwam LLC bought a new position in CVB Financial during the 3rd quarter valued at $207,000. Institutional investors own 74.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO David A. Brager purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $16.75 per share, with a total value of $33,500.00. Following the completion of the purchase, the chief executive officer now owns 152,814 shares in the company, valued at approximately $2,559,634.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director George A. Borba, Jr. acquired 59,601 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David A. Brager bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the chief executive officer now owns 152,814 shares in the company, valued at $2,559,634.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 63,601 shares of company stock valued at $1,067,145 over the last ninety days. 6.00% of the stock is owned by corporate insiders.

CVB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.85%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is presently 52.63%.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.