Q2 2024 EPS Estimates for CVB Financial Corp. (NASDAQ:CVBF) Lowered by Analyst

CVB Financial Corp. (NASDAQ:CVBF) – Wedbush dropped their Q2 2024 earnings estimates for shares of CVB Financial in a report released on Thursday, April 25th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.34 for the quarter, down from their prior estimate of $0.38. Wedbush has a “Neutral” rating and a $19.00 price target on the stock. The consensus estimate for CVB Financial’s current full-year earnings is $1.43 per share. Wedbush also issued estimates for CVB Financial’s Q3 2024 earnings at $0.37 EPS, Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.43 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.40 EPS.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $126.57 million during the quarter, compared to analyst estimates of $127.46 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.94%. The company’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS.

Several other research firms have also issued reports on CVBF. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research note on Monday, April 22nd. StockNews.com raised shares of CVB Financial to a “sell” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods reduced their price objective on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of CVB Financial in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, CVB Financial presently has a consensus rating of “Hold” and an average target price of $19.00.

CVB Financial Stock Down 0.2 %

Shares of NASDAQ:CVBF opened at $16.48 on Friday. The firm has a fifty day moving average of $16.98 and a two-hundred day moving average of $17.70. The firm has a market capitalization of $2.30 billion, a P/E ratio of 10.84 and a beta of 0.46. CVB Financial has a 12-month low of $10.66 and a 12-month high of $21.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of CVB Financial during the 4th quarter worth about $36,000. GAMMA Investing LLC bought a new position in shares of CVB Financial during the 4th quarter worth about $102,000. Headlands Technologies LLC bought a new stake in CVB Financial in the fourth quarter valued at about $122,000. Assetmark Inc. increased its stake in CVB Financial by 141.5% in the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 5,038 shares during the period. Finally, Covestor Ltd increased its stake in CVB Financial by 11.2% in the third quarter. Covestor Ltd now owns 8,761 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 885 shares during the period. Institutional investors own 74.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO David A. Brager bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the acquisition, the chief executive officer now directly owns 152,814 shares of the company’s stock, valued at approximately $2,559,634.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director George A. Borba, Jr. acquired 59,601 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the acquisition, the director now owns 626,311 shares in the company, valued at approximately $10,509,498.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David A. Brager acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were bought at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the acquisition, the chief executive officer now owns 152,814 shares in the company, valued at approximately $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 quarter. 6.00% of the stock is currently owned by company insiders.

CVB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a yield of 4.85%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

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.