FY2024 Earnings Estimate for CVB Financial Issued By Wedbush

CVB Financial Corp. (NASDAQ:CVBF) – Investment analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for shares of CVB Financial in a report issued on Thursday, October 24th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $1.44 per share for the year, up from their prior forecast of $1.40. Wedbush currently has a “Neutral” rating and a $20.00 target price on the stock. The consensus estimate for CVB Financial’s current full-year earnings is $1.40 per share. Wedbush also issued estimates for CVB Financial’s Q1 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.36 EPS, Q1 2026 earnings at $0.37 EPS, Q2 2026 earnings at $0.38 EPS and Q3 2026 earnings at $0.38 EPS.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. CVB Financial had a return on equity of 10.41% and a net margin of 29.58%. The company had revenue of $126.45 million for the quarter, compared to the consensus estimate of $126.75 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $20.00 to $22.00 in a report on Wednesday, October 2nd. Stephens upped their target price on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, CVB Financial currently has an average rating of “Hold” and an average target price of $20.25.

CVB Financial Price Performance

CVBF stock opened at $19.59 on Friday. CVB Financial has a 1 year low of $14.62 and a 1 year high of $21.77. The stock has a market capitalization of $2.74 billion, a PE ratio of 12.89 and a beta of 0.45. The company’s 50-day moving average is $18.02 and its 200-day moving average is $17.42.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Monday, September 30th. CVB Financial’s payout ratio is 52.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CVBF. Dimensional Fund Advisors LP grew its position in CVB Financial by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock valued at $97,399,000 after buying an additional 816,176 shares during the period. Vanguard Group Inc. grew its position in shares of CVB Financial by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after acquiring an additional 176,694 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of CVB Financial during the 1st quarter worth approximately $1,606,000. Inspire Advisors LLC bought a new stake in shares of CVB Financial in the 2nd quarter worth approximately $1,474,000. Finally, Sei Investments Co. lifted its stake in CVB Financial by 15.5% in the first quarter. Sei Investments Co. now owns 611,438 shares of the financial services provider’s stock valued at $10,908,000 after purchasing an additional 82,125 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Company Profile

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.