CVB Financial (CVBF) to Release Earnings on Wednesday

CVB Financial (NASDAQ:CVBF) is set to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

CVB Financial (NASDAQ:CVBF) last released its earnings results 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. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The firm had revenue of $138.52 million during the quarter, compared to analyst estimates of $134.88 million. 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 Stock Performance

CVBF opened at $16.47 on Tuesday. The company has a fifty day moving average price of $17.01 and a two-hundred day moving average price of $17.70. CVB Financial has a 52 week low of $10.66 and a 52 week high of $21.77. The firm has a market capitalization of $2.30 billion, a PE ratio of 10.36 and a beta of 0.46.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Wednesday, April 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Tuesday, April 2nd. CVB Financial’s dividend payout ratio is presently 50.31%.

Insider Activity at CVB Financial

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

Analyst Ratings Changes

CVBF has been the subject of several research analyst reports. Wedbush decreased 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. Keefe, Bruyette & Woods decreased their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a report on Monday. Finally, StockNews.com raised shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, CVB Financial currently has a consensus rating of “Hold” and a consensus target price of $20.00.

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.