CVB Financial (NASDAQ:CVBF) Posts Earnings Results, Beats Expectations By $0.02 EPS

CVB Financial (NASDAQ:CVBF) released its earnings results on Wednesday. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02, Zacks reports. CVB Financial had a net margin of 29.32% and a return on equity of 9.41%.

CVB Financial Price Performance

Shares of CVBF opened at $20.66 on Friday. The business’s 50-day moving average is $22.06 and its 200-day moving average is $19.73. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 14.35 and a beta of 0.50. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.87%. CVB Financial’s payout ratio is presently 55.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CVBF shares. Keefe, Bruyette & Woods increased their price objective on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday, October 24th. Stephens reissued an “equal weight” rating and issued a $25.00 price target on shares of CVB Financial in a research note on Thursday. Finally, Piper Sandler reduced their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, CVB Financial currently has a consensus rating of “Hold” and a consensus price target of $22.60.

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.