Q4 2018 Earnings Estimate for CVB Financial Corp. (CVBF) Issued By FIG Partners
CVB Financial Corp. (NASDAQ:CVBF) – Equities research analysts at FIG Partners decreased their Q4 2018 EPS estimates for shares of CVB Financial in a research note issued on Thursday, October 25th. FIG Partners analyst T. Coffey now anticipates that the financial services provider will earn $0.30 per share for the quarter, down from their previous forecast of $0.33. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for CVB Financial’s Q1 2020 earnings at $0.39 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.40 EPS and FY2020 earnings at $1.58 EPS.
Other research analysts have also recently issued research reports about the company. BidaskClub upgraded CVB Financial from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine cut CVB Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research cut CVB Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Finally, Piper Jaffray Companies set a $25.00 price target on CVB Financial and gave the stock a “hold” rating in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.50.
CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CVB Financial had a return on equity of 11.11% and a net margin of 34.92%. The firm had revenue of $103.43 million for the quarter, compared to analyst estimates of $102.47 million. During the same period in the prior year, the business posted $0.27 EPS. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 3rd were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Tuesday, October 2nd. CVB Financial’s payout ratio is currently 52.34%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of CVB Financial in the third quarter worth $118,000. GSA Capital Partners LLP bought a new position in shares of CVB Financial in the second quarter worth $204,000. Verition Fund Management LLC bought a new position in shares of CVB Financial in the first quarter worth $216,000. OppenheimerFunds Inc. bought a new position in shares of CVB Financial in the second quarter worth $217,000. Finally, TradeLink Capital LLC bought a new position in shares of CVB Financial in the second quarter worth $224,000. Institutional investors own 70.07% of the company’s stock.
About CVB Financial
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
Featured Article: What are the economic characteristics of a bear market?
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.