Wedbush Analysts Lower Earnings Estimates for CVB Financial Corp. (NASDAQ:CVBF)

CVB Financial Corp. (NASDAQ:CVBF) – Equities research analysts at Wedbush lowered their Q3 2024 EPS estimates for shares of CVB Financial in a report released on Thursday, July 25th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.34 for the quarter, down from their prior forecast of $0.37. Wedbush currently has a “Neutral” rating and a $21.00 price target on the stock. The consensus estimate for CVB Financial’s current full-year earnings is $1.41 per share. Wedbush also issued estimates for CVB Financial’s Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.39 EPS and FY2025 earnings at $1.50 EPS.

A number of other research firms also recently issued reports on CVBF. Stephens reiterated an “equal weight” rating and set a $20.00 price objective on shares of CVB Financial in a report on Thursday, April 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price (up from $19.00) on shares of CVB Financial in a research note on Friday. Janney Montgomery Scott downgraded CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Hovde Group lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, CVB Financial has an average rating of “Hold” and an average target price of $19.75.

CVB Financial Trading Up 1.6 %

CVBF opened at $19.76 on Friday. The firm’s fifty day simple moving average is $17.12 and its 200 day simple moving average is $17.26. CVB Financial has a 12 month low of $14.62 and a 12 month high of $21.77. The stock has a market capitalization of $2.76 billion, a P/E ratio of 13.00 and a beta of 0.47.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 10.51% and a net margin of 29.58%. The business had revenue of $125.27 million during the quarter, compared to analyst estimates of $126.86 million. During the same period in the previous year, the firm earned $0.40 EPS. CVB Financial’s quarterly revenue was down 5.2% compared to the same quarter last year.

CVB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.80 annualized dividend and a yield of 4.05%. CVB Financial’s dividend payout ratio is 52.63%.

Insiders Place Their Bets

In other news, Director George A. Borba, Jr. bought 4,610 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $73,760.00. Following the transaction, the director now owns 665,121 shares of the company’s stock, valued at $10,641,936. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CVB Financial news, Director George A. Borba, Jr. bought 4,610 shares of CVB Financial stock in a transaction on Monday, June 17th. The shares were 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 in the company, valued at approximately $10,641,936. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George A. Borba, Jr. purchased 34,200 shares of the firm’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 purchase, the director now owns 660,511 shares in the company, valued at approximately $10,561,570.89. The disclosure for this purchase can be found here. Insiders have bought 39,910 shares of company stock worth $638,669 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

A number of hedge funds have recently made changes to their positions in CVBF. Vanguard Group Inc. lifted its stake in CVB Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after purchasing an additional 176,694 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CVB Financial by 16.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,290,055 shares of the financial services provider’s stock valued at $86,619,000 after acquiring an additional 594,901 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of CVB Financial by 104.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after acquiring an additional 1,994,369 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in CVB Financial by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,784,666 shares of the financial services provider’s stock worth $76,412,000 after acquiring an additional 190,343 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in CVB Financial by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 3,059,293 shares of the financial services provider’s stock worth $54,578,000 after purchasing an additional 144,587 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

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.