CVB Financial (CVBF) to Release Earnings on Wednesday

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

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The business had revenue of $138.52 million for the quarter, compared to analyst estimates 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 Up 1.2 %

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

CVB Financial Announces Dividend

The business also recently announced 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 of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.99%. CVB Financial’s dividend payout ratio (DPR) is 50.31%.

Insider Buying and Selling at CVB Financial

In other news, Director George A. Borba, Jr. bought 59,601 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director George A. Borba, Jr. bought 59,601 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the acquisition, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David A. Brager bought 2,000 shares of the firm’s stock in a transaction 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 directly owns 152,814 shares in the company, valued at $2,559,634.50. The disclosure for this purchase can be found here. Insiders have bought 63,601 shares of company stock worth $1,067,145 in the last ninety days. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On CVB Financial

Large investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in CVB Financial by 96.0% during 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 purchased a new stake in shares of CVB Financial in the 4th quarter valued at approximately $42,000. Royal Bank of Canada increased its position in shares of 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 valued at $73,000 after purchasing an additional 2,116 shares during the last quarter. Point72 Middle East FZE purchased a new stake in shares of CVB Financial in the 4th quarter valued at approximately $92,000. Finally, Covestor Ltd increased its position in shares of CVB Financial by 73.9% in the 1st quarter. Covestor Ltd now owns 4,609 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,959 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Wedbush lowered their price target on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.