$99.34 Million in Sales Expected for CVB Financial Corp. (CVBF) This Quarter
Equities analysts expect CVB Financial Corp. (NASDAQ:CVBF) to announce sales of $99.34 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for CVB Financial’s earnings. The lowest sales estimate is $83.00 million and the highest is $108.00 million. CVB Financial posted sales of $81.78 million in the same quarter last year, which would indicate a positive year over year growth rate of 21.5%. The company is expected to issue its next quarterly earnings report on Wednesday, October 17th.
On average, analysts expect that CVB Financial will report full-year sales of $380.30 million for the current financial year, with estimates ranging from $364.00 million to $392.40 million. For the next year, analysts expect that the company will post sales of $483.00 million per share, with estimates ranging from $462.00 million to $498.80 million. Zacks’ sales averages are an average based on a survey of research firms that cover CVB Financial.
CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. CVB Financial had a net margin of 34.66% and a return on equity of 12.20%. The company had revenue of $82.38 million during the quarter, compared to analyst estimates of $81.70 million. During the same period in the prior year, the firm earned $0.26 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of CVB Financial by 15.9% in the second quarter. Victory Capital Management Inc. now owns 17,540 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 2,406 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of CVB Financial by 1.6% in the first quarter. Prudential Financial Inc. now owns 172,163 shares of the financial services provider’s stock worth $3,898,000 after purchasing an additional 2,700 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of CVB Financial by 2.0% in the first quarter. Great West Life Assurance Co. Can now owns 137,363 shares of the financial services provider’s stock worth $3,110,000 after purchasing an additional 2,746 shares in the last quarter. First Trust Advisors LP lifted its position in shares of CVB Financial by 1.8% in the second quarter. First Trust Advisors LP now owns 156,178 shares of the financial services provider’s stock worth $3,502,000 after purchasing an additional 2,782 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of CVB Financial by 2.1% in the second quarter. California Public Employees Retirement System now owns 141,106 shares of the financial services provider’s stock worth $3,164,000 after purchasing an additional 2,915 shares in the last quarter. 69.07% of the stock is owned by institutional investors and hedge funds.
CVBF stock opened at $24.50 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.02. CVB Financial has a one year low of $19.58 and a one year high of $25.49. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.98 and a beta of 1.38.
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.
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