CVB Financial (NASDAQ:CVBF – Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02, Briefing.com reports. The business had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS.
CVB Financial Stock Performance
Shares of CVBF traded up $0.32 during mid-day trading on Thursday, hitting $19.76. 1,543,993 shares of the company traded hands, compared to its average volume of 827,117. The stock has a 50-day moving average price of $17.12 and a two-hundred day moving average price of $17.26. CVB Financial has a 1 year low of $14.62 and a 1 year high of $21.77. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 13.00 and a beta of 0.47.
CVB Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, July 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.05%. CVB Financial’s payout ratio is 52.63%.
Insider Activity
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Stephens reissued an “equal weight” rating and issued a $20.00 price target on shares of CVB Financial in a report on Thursday, April 25th. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research note on Monday, April 22nd. Keefe, Bruyette & Woods cut their target price on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, Wedbush lifted their target price on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, CVB Financial has an average rating of “Hold” and an average target price of $19.50.
Get Our Latest Stock Analysis 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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