Zacks: Analysts Anticipate CVB Financial Corp. (CVBF) Will Post Earnings of $0.32 Per Share

Analysts expect CVB Financial Corp. (NASDAQ:CVBF) to post $0.32 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for CVB Financial’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.33. CVB Financial posted earnings per share of $0.27 during the same quarter last year, which suggests a positive year over year growth rate of 18.5%. The business is expected to report its next earnings results on Wednesday, October 17th.

On average, analysts expect that CVB Financial will report full-year earnings of $1.29 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.32. For the next fiscal year, analysts forecast that the company will report earnings of $1.45 per share, with EPS estimates ranging from $1.40 to $1.50. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for CVB Financial.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. CVB Financial had a net margin of 34.66% and a return on equity of 12.20%. The company had revenue of $82.38 million during the quarter, compared to analysts’ expectations of $81.70 million. During the same period last year, the company posted $0.26 EPS.

Several research analysts have recently weighed in on CVBF shares. Zacks Investment Research raised shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. BidaskClub raised shares of CVB Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Hovde Group set a $25.00 price target on shares of CVB Financial and gave the company a “hold” rating in a research note on Monday, July 23rd. Piper Jaffray Companies set a $25.00 price target on shares of CVB Financial and gave the company a “hold” rating in a research note on Monday, July 30th. Finally, Wedbush reaffirmed a “neutral” rating on shares of CVB Financial in a research note on Monday, July 16th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.10.

NASDAQ CVBF traded down $0.43 during trading hours on Tuesday, reaching $23.78. 348,125 shares of the company’s stock traded hands, compared to its average volume of 447,258. CVB Financial has a 52-week low of $19.58 and a 52-week high of $25.49. The stock has a market cap of $2.67 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.73.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 19th. Investors of record on Thursday, July 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, July 3rd. CVB Financial’s payout ratio is 52.34%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its stake in shares of CVB Financial by 96.2% in the fourth quarter. Deutsche Bank AG now owns 257,529 shares of the financial services provider’s stock valued at $6,066,000 after acquiring an additional 126,257 shares during the period. MetLife Investment Advisors LLC purchased a new stake in CVB Financial during the fourth quarter worth about $1,145,000. Schwab Charles Investment Management Inc. increased its stake in CVB Financial by 3.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 611,344 shares of the financial services provider’s stock worth $13,841,000 after purchasing an additional 20,343 shares during the period. D.A. Davidson & CO. purchased a new stake in CVB Financial during the first quarter worth about $366,000. Finally, Prudential Financial Inc. increased its stake in CVB Financial by 1.6% during the first quarter. Prudential Financial Inc. now owns 172,163 shares of the financial services provider’s stock worth $3,898,000 after purchasing an additional 2,700 shares during the period. 69.15% of the stock is currently owned by institutional investors.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.

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Earnings History and Estimates for CVB Financial (NASDAQ:CVBF)

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