Analysts Issue Forecasts for CVB Financial Corp.’s Q2 2024 Earnings (NASDAQ:CVBF)

CVB Financial Corp. (NASDAQ:CVBF) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of CVB Financial in a research note issued on Friday, April 26th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.34 per share 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 released its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $126.57 million for the quarter, compared to the consensus estimate of $127.46 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was down 8.9% compared to the same quarter last year.

A number of other brokerages have also recently commented on CVBF. Wedbush reaffirmed a “neutral” rating and issued a $19.00 price target on shares of CVB Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research note on Monday, April 22nd. Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a research note on Thursday, April 25th. Finally, StockNews.com raised CVB Financial to a “sell” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, CVB Financial presently has a consensus rating of “Hold” and a consensus price target of $19.00.

CVB Financial Price Performance

Shares of CVBF stock opened at $16.34 on Monday. The stock has a market cap of $2.28 billion, a PE ratio of 10.75 and a beta of 0.46. The stock has a 50-day moving average of $16.94 and a 200-day moving average of $17.72. CVB Financial has a one year low of $10.66 and a one year high of $21.77.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is currently 52.63%.

Insider Buying and Selling

In other CVB Financial news, Director George A. Borba, Jr. purchased 59,601 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were purchased at an average cost of $16.78 per share, with a total value of $1,000,104.78. Following the completion of the purchase, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO David A. Brager purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired 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 of the company’s stock, valued at approximately $2,559,634.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George A. Borba, Jr. acquired 59,601 shares of CVB Financial stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the purchase, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The disclosure for this purchase can be found here. Insiders have purchased a total of 64,701 shares of company stock valued at $1,085,196 over the last ninety days. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in CVB Financial in the 4th quarter valued at $36,000. GAMMA Investing LLC purchased a new position in shares of CVB Financial during the 4th quarter valued at $102,000. Headlands Technologies LLC purchased a new position in shares of CVB Financial during the 4th quarter valued at $122,000. Assetmark Inc. lifted its position in shares of CVB Financial by 141.5% during the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after buying an additional 5,038 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of CVB Financial by 11.2% during the 3rd quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after buying an additional 885 shares during the last quarter. Institutional investors own 74.18% of the company’s stock.

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.