CVB Financial Corp. (NASDAQ:CVBF) Forecasted to Post FY2024 Earnings of $1.45 Per Share

CVB Financial Corp. (NASDAQ:CVBF) – Equities researchers at DA Davidson reduced their FY2024 EPS estimates for shares of CVB Financial in a research note issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $1.45 per share for the year, down from their previous forecast of $1.49. The consensus estimate for CVB Financial’s current full-year earnings is $1.49 per share. DA Davidson also issued estimates for CVB Financial’s FY2025 earnings at $1.50 EPS.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping 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 company had revenue of $138.52 million during the quarter, compared to analysts’ expectations of $134.88 million.

Several other research analysts have also recently commented on the stock. Wedbush lowered their price target 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. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods reduced 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 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.67.

CVB Financial Stock Up 0.8 %

NASDAQ CVBF opened at $15.98 on Thursday. CVB Financial has a 52 week low of $10.66 and a 52 week high of $21.77. The stock has a market capitalization of $2.23 billion, a PE ratio of 10.05 and a beta of 0.46. The firm has a 50 day moving average of $17.05 and a two-hundred day moving average of $17.67.

Hedge Funds Weigh In On CVB Financial

A number of large investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY grew its stake in shares of CVB Financial by 5.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 8,448 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 424 shares during the period. LPL Financial LLC grew its stake in shares of CVB Financial by 0.7% during the 2nd quarter. LPL Financial LLC now owns 65,429 shares of the financial services provider’s stock worth $1,623,000 after purchasing an additional 446 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of CVB Financial by 4.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 10,626 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 490 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of CVB Financial by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 69,643 shares of the financial services provider’s stock worth $1,728,000 after purchasing an additional 676 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of CVB Financial by 1.4% during the 2nd quarter. Cerity Partners LLC now owns 55,477 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 771 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Insider Activity at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. purchased 59,601 shares of CVB Financial stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the transaction, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David A. Brager acquired 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was bought at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the transaction, the chief executive officer now owns 152,814 shares in the company, valued at $2,559,634.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George A. Borba, Jr. acquired 59,601 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were purchased at an average price of $16.78 per share, with a total value of $1,000,104.78. Following the transaction, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders acquired a total of 63,601 shares of company stock worth $1,067,145 in the last 90 days. 6.00% of the stock is owned by insiders.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 5.01%. CVB Financial’s dividend payout ratio is presently 50.31%.

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.