CVB Financial Corp. (NASDAQ:CVBF – Get Rating) – Equities research analysts at Wedbush upped their Q4 2022 earnings per share estimates for CVB Financial in a report released on Monday, April 25th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $0.43 per share for the quarter, up from their prior estimate of $0.39. Wedbush also issued estimates for CVB Financial’s Q1 2023 earnings at $0.43 EPS, Q2 2023 earnings at $0.46 EPS, Q3 2023 earnings at $0.47 EPS, Q4 2023 earnings at $0.45 EPS and FY2023 earnings at $1.80 EPS.
CVB Financial (NASDAQ:CVBF – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $124.10 million for the quarter, compared to analysts’ expectations of $120.00 million. CVB Financial had a net margin of 40.95% and a return on equity of 9.20%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS.
Shares of NASDAQ CVBF opened at $23.99 on Tuesday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 17.01 and a beta of 0.40. CVB Financial has a 12 month low of $18.72 and a 12 month high of $24.37. The firm’s 50 day simple moving average is $23.35 and its 200-day simple moving average is $22.04.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its holdings in CVB Financial by 4.3% in the 1st quarter. First Trust Advisors LP now owns 174,758 shares of the financial services provider’s stock valued at $3,679,000 after acquiring an additional 7,255 shares during the last quarter. Royal Bank of Canada raised its holdings in CVB Financial by 171.3% in the 2nd quarter. Royal Bank of Canada now owns 8,850 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 5,588 shares during the last quarter. Victory Capital Management Inc. raised its holdings in CVB Financial by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 333,260 shares of the financial services provider’s stock valued at $6,789,000 after acquiring an additional 97,350 shares during the last quarter. US Asset Management LLC acquired a new stake in CVB Financial in the 3rd quarter valued at about $112,000. Finally, Versor Investments LP raised its holdings in CVB Financial by 75.0% in the 3rd quarter. Versor Investments LP now owns 21,100 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 9,045 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.
In related news, CAO Francene Lapoint sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $23.39, for a total transaction of $116,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 20th. Investors of record on Wednesday, April 6th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, April 5th. This represents a $0.72 annualized dividend and a dividend yield of 3.00%. CVB Financial’s dividend payout ratio (DPR) is presently 51.06%.
CVB Financial Company Profile (Get Rating)
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.
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