CVB Financial (NASDAQ:CVBF – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02, Briefing.com reports. The firm had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a return on equity of 10.51% and a net margin of 29.58%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS.
CVB Financial Stock Performance
Shares of CVBF stock remained flat at $19.76 on Friday. The company had a trading volume of 437,520 shares, compared to its average volume of 824,393. CVB Financial has a twelve month low of $14.62 and a twelve month high of $21.77. The company has a market capitalization of $2.76 billion, a PE ratio of 13.03 and a beta of 0.47. The stock’s 50 day moving average is $17.12 and its 200 day moving average is $17.26.
CVB Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.05%. CVB Financial’s dividend payout ratio is currently 52.63%.
Insider Buying and Selling
Analyst Ratings Changes
CVBF has been the topic of several analyst reports. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a report on Wednesday, May 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 target price (up from $19.00) on shares of CVB Financial in a report on Friday. Stephens increased their target price on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday. Wedbush increased their target price on CVB Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, CVB Financial presently has an average rating of “Hold” and a consensus target price of $20.00.
Read Our Latest Report on CVBF
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.
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