CVB Financial (CVBF) to Release Earnings on Wednesday

CVB Financial (NASDAQ:CVBF) will be releasing its earnings data after the market closes on Wednesday, April 24th. Analysts expect CVB Financial to post earnings of $0.37 per share for the quarter.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The firm had revenue of $138.52 million for the quarter, compared to analysts’ expectations of $134.88 million. On average, analysts expect CVB Financial to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CVB Financial Stock Performance

Shares of CVBF traded up $0.19 during mid-day trading on Thursday, reaching $16.04. The company had a trading volume of 128,136 shares, compared to its average volume of 893,193. The firm has a 50-day moving average price of $17.07 and a 200 day moving average price of $17.68. CVB Financial has a 52 week low of $10.66 and a 52 week high of $21.77. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 10.14 and a beta of 0.46.

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were given a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.99%. CVB Financial’s dividend payout ratio is currently 50.31%.

Insider Buying and Selling at CVB Financial

In related news, CFO E Allen Nicholson acquired 2,000 shares of CVB Financial stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $16.77 per share, for a total transaction of $33,540.00. Following the purchase, the chief financial officer now directly owns 92,310 shares of the company’s stock, valued at approximately $1,548,038.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director George A. Borba, Jr. acquired 59,601 shares of CVB Financial stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the purchase, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO E Allen Nicholson acquired 2,000 shares of CVB Financial stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $16.77 per share, with a total value of $33,540.00. Following the completion of the purchase, the chief financial officer now directly owns 92,310 shares in the company, valued at $1,548,038.70. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 63,601 shares of company stock worth $1,067,145. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted its holdings in CVB Financial by 96.0% in the 2nd quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock worth $44,000 after buying an additional 860 shares during the period. Point72 Hong Kong Ltd bought a new position in CVB Financial in the 4th quarter worth $42,000. Royal Bank of Canada boosted its holdings in CVB Financial by 277.7% in the 3rd quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock worth $73,000 after buying an additional 2,116 shares during the period. Point72 Middle East FZE bought a new position in CVB Financial in the 4th quarter worth $92,000. Finally, Covestor Ltd boosted its holdings in CVB Financial by 73.9% in the 1st quarter. Covestor Ltd now owns 4,609 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,959 shares during the period. Institutional investors own 74.18% of the company’s stock.

Analysts Set New Price Targets

CVBF has been the topic of a number of analyst reports. StockNews.com raised CVB Financial to a “sell” rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods decreased their price objective on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Finally, Wedbush decreased their price objective on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Hold” and a consensus target price of $20.67.

About CVB Financial

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.