Zacks: Brokerages Anticipate CVB Financial Corp. (CVBF) to Post $0.33 EPS

Wall Street analysts expect CVB Financial Corp. (NASDAQ:CVBF) to report earnings per share of $0.33 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for CVB Financial’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.37. CVB Financial reported earnings per share of $0.28 in the same quarter last year, which would suggest a positive year over year growth rate of 17.9%. The firm is expected to report its next earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that CVB Financial will report full year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.23 to $1.31. For the next financial year, analysts anticipate that the company will report earnings of $1.46 per share, with EPS estimates ranging from $1.37 to $1.52. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover CVB Financial.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CVB Financial had a return on equity of 11.11% and a net margin of 34.92%. The business had revenue of $103.43 million for the quarter, compared to analysts’ expectations of $102.47 million. During the same quarter in the previous year, the firm posted $0.27 EPS. CVB Financial’s revenue was up 25.0% on a year-over-year basis.

CVBF has been the topic of a number of research analyst reports. BidaskClub upgraded CVB Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded CVB Financial from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, September 18th. Wedbush restated a “neutral” rating on shares of CVB Financial in a research note on Monday, July 16th. Piper Jaffray Companies set a $25.00 price target on CVB Financial and gave the stock a “hold” rating in a research note on Monday, July 30th. Finally, Hovde Group set a $25.00 price target on CVB Financial and gave the stock a “hold” rating in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.10.

Several institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new stake in shares of CVB Financial during the third quarter worth about $465,000. Wells Fargo & Company MN lifted its holdings in shares of CVB Financial by 11.8% during the third quarter. Wells Fargo & Company MN now owns 93,146 shares of the financial services provider’s stock worth $2,080,000 after purchasing an additional 9,848 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in shares of CVB Financial by 12.6% during the third quarter. Public Employees Retirement Association of Colorado now owns 750,051 shares of the financial services provider’s stock worth $16,741,000 after purchasing an additional 83,900 shares during the period. First Trust Advisors LP lifted its holdings in shares of CVB Financial by 42.8% during the third quarter. First Trust Advisors LP now owns 222,965 shares of the financial services provider’s stock worth $4,977,000 after purchasing an additional 66,787 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of CVB Financial during the third quarter worth about $118,000. 70.05% of the stock is owned by hedge funds and other institutional investors.

Shares of CVBF stock opened at $22.44 on Wednesday. CVB Financial has a fifty-two week low of $19.50 and a fifty-two week high of $25.49. The stock has a market cap of $2.41 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.72 and a current ratio of 0.81.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Wednesday, October 3rd were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, October 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.50%. CVB Financial’s payout ratio is 52.34%.

CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, and investment services. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. 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.

Featured Article: What are defining characteristics of a correction?

Get a free copy of the Zacks research report on CVB Financial (CVBF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CVB Financial (NASDAQ:CVBF)

Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply