CVB Financial (NASDAQ:CVBF – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35, Briefing.com reports. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The business had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue was down 8.9% on a year-over-year basis.
CVB Financial Price Performance
NASDAQ CVBF traded down $0.58 on Thursday, hitting $16.51. 368,544 shares of the stock were exchanged, compared to its average volume of 893,383. The company’s 50-day moving average price is $17.02 and its two-hundred day moving average price is $17.70. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.38 and a beta of 0.46. CVB Financial has a 52-week low of $10.66 and a 52-week high of $21.77.
CVB Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Wednesday, April 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.80 annualized dividend and a dividend yield of 4.85%. CVB Financial’s dividend payout ratio (DPR) is presently 50.31%.
Insider Transactions at CVB Financial
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Wedbush reissued a “neutral” rating and issued a $19.00 price objective on shares of CVB Financial in a research note on Thursday. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Hovde Group downgraded shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, CVB Financial has a consensus rating of “Hold” and an average target price of $19.50.
Get Our Latest Stock Report on CVBF
About CVB Financial
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.
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