CVB Financial Corp. (CVBF) Expected to Announce Earnings of $0.34 Per Share

Wall Street analysts expect CVB Financial Corp. (NASDAQ:CVBF) to post earnings per share of $0.34 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for CVB Financial’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.36. CVB Financial posted earnings of $0.32 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that CVB Financial will report full year earnings of $1.47 per share for the current year, with EPS estimates ranging from $1.40 to $1.52. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.55 per share, with EPS estimates ranging from $1.46 to $1.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CVB Financial.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.03). The firm had revenue of $123.77 million during the quarter, compared to the consensus estimate of $116.78 million. CVB Financial had a return on equity of 10.45% and a net margin of 37.50%. During the same quarter in the previous year, the company posted $0.28 EPS.

A number of research analysts have recently weighed in on CVBF shares. BidaskClub upgraded CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Zacks Investment Research lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Friday, January 25th. FIG Partners lowered CVB Financial from an “outperform” rating to a “market-perform” rating in a report on Thursday, January 24th. Keefe, Bruyette & Woods set a $23.00 target price on CVB Financial and gave the company a “hold” rating in a report on Thursday, December 20th. Finally, Piper Jaffray Companies upgraded CVB Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $23.00 to $25.00 in a report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.90.

NASDAQ:CVBF traded up $0.01 on Wednesday, hitting $21.87. The stock had a trading volume of 278,310 shares, compared to its average volume of 367,248. The firm has a market cap of $3.00 billion, a P/E ratio of 17.64, a PEG ratio of 1.53 and a beta of 1.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.85 and a current ratio of 0.85. CVB Financial has a 52 week low of $19.21 and a 52 week high of $24.97.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Saturday, April 6th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, April 4th. This is a positive change from CVB Financial’s previous quarterly dividend of $0.14. CVB Financial’s dividend payout ratio (DPR) is currently 58.06%.

Several institutional investors and hedge funds have recently modified their holdings of CVBF. BlackRock Inc. boosted its stake in CVB Financial by 2.2% during the fourth quarter. BlackRock Inc. now owns 15,840,480 shares of the financial services provider’s stock valued at $320,453,000 after buying an additional 344,230 shares during the period. Vanguard Group Inc lifted its holdings in shares of CVB Financial by 12.8% during the 3rd quarter. Vanguard Group Inc now owns 11,983,877 shares of the financial services provider’s stock valued at $267,480,000 after buying an additional 1,361,412 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CVB Financial by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,983,877 shares of the financial services provider’s stock valued at $267,480,000 after buying an additional 1,361,412 shares during the period. Cliffwater LLC lifted its holdings in shares of CVB Financial by 56.3% during the 4th quarter. Cliffwater LLC now owns 8,038,386 shares of the financial services provider’s stock valued at $162,617,000 after buying an additional 2,895,796 shares during the period. Finally, FMR LLC lifted its holdings in shares of CVB Financial by 5.9% during the 4th quarter. FMR LLC now owns 3,676,442 shares of the financial services provider’s stock valued at $74,374,000 after buying an additional 204,716 shares during the period. 64.73% of the stock is owned by institutional investors.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. 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.

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

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