CVB Financial (NASDAQ:CVBF) is set to announce its earnings results after the market closes on Wednesday, July 24th. Analysts expect the company to announce earnings of $0.36 per share for the quarter.
CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $125.84 million during the quarter, compared to the consensus estimate of $121.24 million. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, analysts expect CVB Financial to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of NASDAQ CVBF opened at $20.33 on Tuesday. The stock has a market capitalization of $2.85 billion, a P/E ratio of 16.40, a PEG ratio of 1.45 and a beta of 1.08. CVB Financial has a 12 month low of $19.21 and a 12 month high of $24.97. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $21.02.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 3rd were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, July 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.54%. CVB Financial’s dividend payout ratio (DPR) is presently 58.06%.
In other CVB Financial news, CEO Christopher D. Myers sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $21.79, for a total transaction of $522,960.00. Following the completion of the sale, the chief executive officer now directly owns 300,157 shares in the company, valued at $6,540,421.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher D. Myers sold 53,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $21.71, for a total transaction of $1,150,630.00. Following the sale, the chief executive officer now owns 295,200 shares of the company’s stock, valued at $6,408,792. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,660 shares of company stock valued at $3,228,758. 5.50% of the stock is owned by insiders.
CVBF has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. FIG Partners restated an “outperform” rating on shares of SmartFinancial in a report on Thursday, April 25th. Janney Montgomery Scott downgraded shares of CVB Financial from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.00.
CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. 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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