CVB Financial (CVBF) Scheduled to Post Earnings on Thursday

CVB Financial (NASDAQ:CVBF) will post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect CVB Financial to post earnings of $0.35 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 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 $125.27 million for the quarter, compared to analysts’ expectations of $126.86 million. During the same period last year, the business posted $0.40 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts expect CVB Financial to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CVB Financial Stock Performance

CVB Financial stock opened at $18.97 on Wednesday. CVB Financial has a one year low of $14.62 and a one year high of $21.77. The company has a 50-day simple moving average of $17.97 and a 200-day simple moving average of $17.41. The firm has a market capitalization of $2.65 billion, a P/E ratio of 12.48 and a beta of 0.45.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is 52.63%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVBF shares. Stephens boosted their price objective 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. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd. Finally, Wedbush decreased their price target on CVB Financial from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.25.

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.