CVB Financial (NASDAQ:CVBF) Announces Earnings Results, Beats Estimates By $0.02 EPS

CVB Financial (NASDAQ:CVBF) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02, Zacks reports. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%.

CVB Financial Stock Down 0.3 %

NASDAQ CVBF traded down $0.06 during trading hours on Wednesday, hitting $20.69. The company had a trading volume of 1,033,836 shares, compared to its average volume of 815,842. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The firm has a market cap of $2.89 billion, a P/E ratio of 14.47 and a beta of 0.50. The business has a fifty day simple moving average of $22.10 and a 200-day simple moving average of $19.72.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.80 dividend on an annualized basis and a yield of 3.87%. CVB Financial’s dividend payout ratio is currently 55.94%.

Analyst Upgrades and Downgrades

CVBF has been the subject of a number of research analyst reports. Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of CVB Financial in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price target on shares of CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lowered their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, CVB Financial has an average rating of “Hold” and an average target price of $21.80.

CVB Financial Company Profile

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.