CVB Financial Co. (NASDAQ:CVBF) – FIG Partners dropped their Q2 2018 earnings per share estimates for shares of CVB Financial in a research report issued to clients and investors on Thursday, April 19th. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings per share of $0.31 for the quarter, down from their previous estimate of $0.32.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 target price on shares of CVB Financial in a research report on Thursday, March 1st. BidaskClub raised CVB Financial from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. Sandler O’Neill reissued a “hold” rating and issued a $24.00 target price on shares of CVB Financial in a research report on Thursday, January 4th. Finally, Hovde Group set a $25.00 target price on CVB Financial and gave the company a “hold” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.17.
Shares of CVB Financial stock opened at $22.27 on Friday. CVB Financial has a 52-week low of $19.58 and a 52-week high of $25.49. The company has a market capitalization of $2,442.24, a P/E ratio of 20.81, a PEG ratio of 1.80 and a beta of 1.38. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 0.02.
CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, April 18th. The financial services provider reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The company had revenue of $83.44 million for the quarter, compared to analyst estimates of $82.03 million. CVB Financial had a return on equity of 11.61% and a net margin of 32.71%. During the same quarter last year, the firm posted $0.26 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 19th. Investors of record on Thursday, April 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Wednesday, April 4th. CVB Financial’s dividend payout ratio is presently 52.34%.
In related news, CEO Christopher D. Myers sold 20,000 shares of CVB Financial stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $23.85, for a total value of $477,000.00. Following the sale, the chief executive officer now owns 327,336 shares of the company’s stock, valued at approximately $7,806,963.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in CVB Financial by 2.7% in the fourth quarter. BlackRock Inc. now owns 13,116,215 shares of the financial services provider’s stock valued at $309,019,000 after purchasing an additional 350,786 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in CVB Financial by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,047,104 shares of the financial services provider’s stock valued at $95,350,000 after purchasing an additional 137,543 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in CVB Financial by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,208,139 shares of the financial services provider’s stock valued at $77,539,000 after purchasing an additional 8,238 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in CVB Financial by 6.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 591,001 shares of the financial services provider’s stock valued at $13,924,000 after purchasing an additional 33,256 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in CVB Financial by 13.7% in the fourth quarter. Rhumbline Advisers now owns 270,051 shares of the financial services provider’s stock valued at $6,362,000 after purchasing an additional 32,622 shares in the last quarter. Hedge funds and other institutional investors own 69.91% of the company’s stock.
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About CVB Financial
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, trust, and investment services for small to mid-sized businesses and individuals. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers various deposit products, including checking, savings, money market, and time certificates of deposit for business and personal accounts, as well as serves as a federal tax depository for business customers.
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