CVB Financial (NASDAQ:CVBF – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02, Briefing.com reports. CVB Financial had a net margin of 30.93% and a return on equity of 10.84%. The company had revenue of $125.27 million for the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. CVB Financial’s revenue for the quarter was down 5.2% on a year-over-year basis.
CVB Financial Stock Performance
Shares of NASDAQ CVBF traded up $0.32 during trading on Thursday, hitting $19.76. 1,543,993 shares of the company traded hands, compared to its average volume of 827,117. The business’s fifty day moving average is $17.12 and its 200 day moving average is $17.26. CVB Financial has a fifty-two week low of $14.62 and a fifty-two week high of $21.77. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.00 and a beta of 0.47.
CVB Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, July 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.05%. CVB Financial’s dividend payout ratio is currently 52.63%.
Insider Activity
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CVBF. Hovde Group cut shares of CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research note on Monday, April 22nd. Stephens reaffirmed an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Keefe, Bruyette & Woods cut their price target on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Janney Montgomery Scott cut shares of CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Wedbush upped their price target on shares of CVB Financial from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, CVB Financial presently has an average rating of “Hold” and a consensus price target of $19.50.
Read Our Latest Stock Report on CVB Financial
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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