CVB Financial (CVBF) to Release Quarterly Earnings on Wednesday

CVB Financial (NASDAQ:CVBF) will release its earnings data after the market closes on Wednesday, April 24th. Analysts expect CVB Financial to post earnings of $0.37 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $138.52 million during the quarter, compared to the consensus estimate of $134.88 million. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. 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 Trading Up 4.1 %

Shares of CVBF stock opened at $16.63 on Monday. The business’s fifty day simple moving average is $17.04 and its 200-day simple moving average is $17.70. The company has a market cap of $2.32 billion, a PE ratio of 10.46 and a beta of 0.46. CVB Financial has a 12-month low of $10.66 and a 12-month high of $21.77.

CVB Financial Announces Dividend

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s payout ratio is presently 50.31%.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director George A. Borba, Jr. bought 59,601 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 626,311 shares in the company, valued at $10,509,498.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David A. Brager purchased 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. Insiders have bought a total of 63,601 shares of company stock valued at $1,067,145 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in CVB Financial by 7.7% in the first quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock valued at $483,284,000 after purchasing an additional 1,487,960 shares during the last quarter. Vanguard Group Inc. boosted its holdings in CVB Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after purchasing an additional 176,694 shares during the last quarter. State Street Corp boosted its holdings in CVB Financial by 29.9% in the second quarter. State Street Corp now owns 8,084,109 shares of the financial services provider’s stock valued at $107,357,000 after purchasing an additional 1,861,050 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in CVB Financial by 104.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after purchasing an additional 1,994,369 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in CVB Financial by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,733,409 shares of the financial services provider’s stock valued at $62,271,000 after purchasing an additional 212,674 shares during the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVBF. Keefe, Bruyette & Woods reduced their price target on 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. StockNews.com raised CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Wedbush reduced their price target on CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.