Financial business

Zacks: Analysts predict that CVB Financial Corp. (NASDAQ: CVBF) to post EPS of $ 0.31

Analysts expect CVB Financial Corp. (NASDAQ: CVBF) is posting earnings per share (EPS) of $ 0.31 for the current quarter, according to Zacks. Three analysts provided earnings estimates for CVB Financial, with the highest EPS estimate being $ 0.35 and the lowest estimate being $ 0.26. CVB Financial reported earnings of $ 0.37 per share in the same quarter last year, suggesting a negative year-over-year growth rate of 16.2%. The company is expected to release its next quarterly earnings report on Wednesday, January 26.

According to Zacks, analysts expect CVB Financial to report annual earnings of $ 1.53 per share for the current fiscal year, with EPS estimates ranging from $ 1.48 to $ 1.57. For the next fiscal year, analysts expect the company to post earnings of $ 1.43 per share, with EPS estimates ranging from $ 1.34 to $ 1.50. Zacks Investment Research earnings per share averages are an average based on a survey of seller-side research companies that cover CVB Financial.

CVB Financial (NASDAQ: CVBF) last reported its results on Tuesday, October 19. The financial services provider reported earnings per share (EPS) of $ 0.37 for the quarter, reaching the Zacks’ consensus estimate of $ 0.37. CVB Financial recorded a return on equity of 10.55% and a net margin of 45.37%. The company posted revenue of $ 113.78 million for the quarter, compared to analysts’ estimates of $ 117.73 million. In the same quarter of last year, the company achieved EPS of $ 0.35.

Meanwhile, Zacks Investment Research downgraded CVB Financial from a “hold” rating to a “sell” rating in a research report published on Wednesday, September 29.

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CVB Financial shares opened at $ 21.20 on Friday. The company’s 50-day simple moving average is $ 20.37 and its 200-day simple moving average is $ 20.29. CVB Financial has a 52 week low of $ 18.72 and a 52 week high of $ 25.00. The company has a market cap of $ 2.87 billion, a PE ratio of 13.33 and a beta of 0.46.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 12. Shareholders of record on Wednesday, December 29 will receive a dividend of $ 0.18 per share. This represents an annualized dividend of $ 0.72 and a dividend yield of 3.40%. The ex-dividend date for this dividend is Tuesday, December 28. CVB Financial’s dividend payout ratio (DPR) is 45.28%.

Large investors have recently bought and sold shares in the company. Lazard Asset Management LLC acquired a new position in shares of CVB Financial during the 2nd quarter valued at approximately $ 25,000. Point72 Hong Kong Ltd increased its position in CVB Financial shares by 108.5% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,718 shares of the financial services provider worth $ 76,000 after purchasing an additional 1,935 shares in the last quarter. US Asset Management LLC acquired a new position in shares of CVB Financial during the third quarter valued at approximately $ 112,000. Advisor Group Holdings Inc. increased its position in shares of CVB Financial by 10.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 6,739 shares of the financial services provider valued at $ 138,000 after purchasing an additional 615 shares in the last quarter. Finally, the Royal Bank of Canada increased its holdings of CVB Financial shares by 171.3% during the second quarter. Royal Bank of Canada now owns 8,850 shares of the financial services provider valued at $ 182,000 after acquiring 5,588 additional shares in the last quarter. 65.86% of the shares are currently held by hedge funds and other institutional investors.

Profile of the financial company CVB

CVB Financial Corp. is a banking holding company that provides relationship-based banking products, services and solutions for small and medium-sized businesses, real estate investors, non-profit organizations, professionals and other individuals through its subsidiary, Citizens Business Bank.

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CVB Financial earnings history and estimates (NASDAQ: CVBF)

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