CVB Financial (CVBF) Expected to Announce Earnings on Wednesday

CVB Financial (NASDAQ:CVBF) is projected to issue its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.34 per share and revenue of $112,930.00 billion for the quarter.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The company had revenue of $126.45 million during the quarter, compared to the consensus estimate of $126.75 million. During the same period in the prior year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was down 8.2% 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 Trading Up 1.4 %

Shares of NASDAQ:CVBF traded up $0.29 during trading on Wednesday, hitting $20.77. 645,211 shares of the company’s stock traded hands, compared to its average volume of 821,001. The company has a 50-day moving average price of $22.29 and a 200-day moving average price of $19.59. CVB Financial has a 52 week low of $15.71 and a 52 week high of $24.58. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 14.52 and a beta of 0.50.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. CVB Financial’s payout ratio is 55.94%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVBF shares. Piper Sandler reduced their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.80.

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.