Wall Street analysts expect CVB Financial Corp. (NASDAQ:CVBF) to report earnings per share of $0.32 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for CVB Financial’s earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at $0.31. CVB Financial reported earnings of $0.27 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 18.5%. The business is expected to announce its next earnings results on Wednesday, October 17th.
On average, analysts expect that CVB Financial will report full-year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.29 to $1.32. For the next financial year, analysts expect that the business will report earnings of $1.45 per share, with EPS estimates ranging from $1.40 to $1.50. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow CVB Financial.
CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $82.38 million during the quarter, compared to the consensus estimate of $81.70 million. CVB Financial had a net margin of 34.66% and a return on equity of 12.20%. During the same period in the previous year, the firm posted $0.26 earnings per share.
A number of equities analysts have issued reports on the stock. BidaskClub upgraded shares of CVB Financial from a “hold” rating to a “buy” rating in a research report on Friday, June 8th. Piper Jaffray Companies set a $25.00 price objective on shares of CVB Financial and gave the company a “hold” rating in a research report on Monday, July 30th. Zacks Investment Research upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Hovde Group set a $25.00 price objective on shares of CVB Financial and gave the company a “hold” rating in a research report on Monday, July 23rd. Finally, Sandler O’Neill restated a “hold” rating and issued a $24.50 price objective on shares of CVB Financial in a research report on Friday, July 20th. Eight analysts have rated the stock with a hold rating, CVB Financial presently has a consensus rating of “Hold” and a consensus price target of $25.10.
CVB Financial stock opened at $24.00 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.95 and a beta of 1.38. CVB Financial has a twelve month low of $19.58 and a twelve month high of $25.49.
A number of institutional investors and hedge funds have recently made changes to their positions in CVBF. GSA Capital Partners LLP purchased a new stake in CVB Financial in the second quarter worth about $204,000. Verition Fund Management LLC purchased a new stake in CVB Financial in the first quarter worth about $216,000. OppenheimerFunds Inc. purchased a new stake in CVB Financial in the second quarter worth about $217,000. TradeLink Capital LLC purchased a new stake in CVB Financial in the second quarter worth about $224,000. Finally, Fox Run Management L.L.C. purchased a new stake in CVB Financial in the second quarter worth about $280,000. Institutional investors and hedge funds own 70.40% of the company’s stock.
About CVB Financial
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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