Zacks: Analysts Expect CVB Financial Corp. (CVBF) Will Announce Earnings of $0.34 Per Share
Equities research analysts forecast that CVB Financial Corp. (NASDAQ:CVBF) will announce earnings of $0.34 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for CVB Financial’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.32. CVB Financial posted earnings per share of $0.32 during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The company is scheduled to issue its next earnings report after the market closes on Wednesday, April 24th.
On average, analysts expect that CVB Financial will report full-year earnings of $1.47 per share for the current financial year, with EPS estimates ranging from $1.40 to $1.52. For the next financial year, analysts forecast that the company will post earnings of $1.55 per share, with EPS estimates ranging from $1.46 to $1.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover CVB Financial.
CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, January 23rd. The financial services provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). CVB Financial had a net margin of 37.50% and a return on equity of 10.45%. The firm had revenue of $123.77 million for the quarter, compared to analysts’ expectations of $116.78 million. During the same period in the previous year, the company earned $0.28 EPS.
NASDAQ:CVBF traded up $0.04 during midday trading on Wednesday, reaching $21.11. 1,877 shares of the stock traded hands, compared to its average volume of 452,062. CVB Financial has a 12-month low of $19.21 and a 12-month high of $24.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.54 and a beta of 1.16.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Saturday, April 6th will be paid a dividend of $0.18 per share. This is a positive change from CVB Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.41%. CVB Financial’s dividend payout ratio is presently 58.06%.
Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in shares of CVB Financial by 21.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,390 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 601 shares during the period. Piedmont Investment Advisors Inc. increased its stake in shares of CVB Financial by 3.3% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 24,545 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 790 shares during the period. Bank of Montreal Can increased its stake in shares of CVB Financial by 8.9% in the fourth quarter. Bank of Montreal Can now owns 9,789 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 797 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CVB Financial by 13.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,115 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 961 shares during the period. Finally, Toronto Dominion Bank acquired a new stake in shares of CVB Financial in the fourth quarter worth $35,000. Institutional investors and hedge funds own 64.75% of the company’s stock.
CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. 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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