CVB Financial Corp. (NASDAQ:CVBF) Expected to Post Q4 2024 Earnings of $0.37 Per Share

CVB Financial Corp. (NASDAQ:CVBF) – Equities research analysts at Wedbush dropped their Q4 2024 earnings per share estimates for shares of CVB Financial in a research note issued on Monday, June 24th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $0.37 per share for the quarter, down from their previous forecast of $0.38. Wedbush has a “Neutral” rating and a $19.00 price objective on the stock. The consensus estimate for CVB Financial’s current full-year earnings is $1.41 per share.

A number of other research firms have also issued reports on CVBF. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods reduced their price objective on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, April 25th. Finally, Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.00.

CVB Financial Trading Up 1.7 %

Shares of NASDAQ CVBF opened at $16.55 on Tuesday. CVB Financial has a twelve month low of $12.89 and a twelve month high of $21.77. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.89 and a beta of 0.46. The business has a 50 day simple moving average of $16.63 and a 200-day simple moving average of $17.56.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The business had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same period in the previous year, the business earned $0.42 EPS. The business’s quarterly revenue was down 8.9% on a year-over-year basis.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of CVB Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock worth $317,014,000 after purchasing an additional 176,694 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CVB Financial by 16.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock worth $86,619,000 after purchasing an additional 594,901 shares during the period. American Century Companies Inc. raised its position in shares of CVB Financial by 44.1% during the third quarter. American Century Companies Inc. now owns 3,937,457 shares of the financial services provider’s stock worth $65,244,000 after purchasing an additional 1,204,090 shares during the period. Goldman Sachs Group Inc. raised its position in shares of CVB Financial by 104.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock worth $78,694,000 after purchasing an additional 1,994,369 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CVB Financial by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,784,666 shares of the financial services provider’s stock worth $76,412,000 after purchasing an additional 190,343 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CVB Financial news, Director George A. Borba, Jr. purchased 34,200 shares of CVB Financial stock in a transaction on Friday, June 14th. The stock was bought at an average price of $15.99 per share, for a total transaction of $546,858.00. Following the transaction, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director George A. Borba, Jr. acquired 34,200 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was acquired at an average price of $15.99 per share, for a total transaction of $546,858.00. Following the completion of the acquisition, the director now directly owns 660,511 shares in the company, valued at approximately $10,561,570.89. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George A. Borba, Jr. acquired 4,610 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was purchased at an average price of $16.00 per share, with a total value of $73,760.00. Following the acquisition, the director now owns 665,121 shares of the company’s stock, valued at $10,641,936. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 39,910 shares of company stock worth $638,669. 6.00% of the stock is owned by company insiders.

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.