CVB Financial (NASDAQ:CVBF – Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35, Briefing.com reports. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. The company had revenue of $126.57 million for the quarter, compared to analysts’ expectations of $127.46 million. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year.
CVB Financial Stock Down 3.3 %
Shares of CVBF traded down $0.56 during trading on Thursday, reaching $16.53. The company’s stock had a trading volume of 322,230 shares, compared to its average volume of 892,760. The company has a fifty day moving average of $17.02 and a two-hundred day moving average of $17.70. CVB Financial has a twelve month low of $10.66 and a twelve month high of $21.77. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 10.75 and a beta of 0.46.
CVB Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Tuesday, April 2nd. CVB Financial’s payout ratio is currently 50.31%.
Insider Buying and Selling
Wall Street Analysts Forecast Growth
CVBF has been the topic of a number of research analyst reports. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Hovde Group lowered shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a report on Monday. Wedbush reissued a “neutral” rating and set a $19.00 target price on shares of CVB Financial in a research report on Thursday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.50.
Get Our Latest Stock Report on CVB Financial
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.
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