Piper Jaffray Companies Comments on CVB Financial Corp.’s Q4 2018 Earnings (CVBF)

CVB Financial Corp. (NASDAQ:CVBF) – Equities researchers at Piper Jaffray Companies raised their Q4 2018 earnings per share (EPS) estimates for CVB Financial in a research report issued to clients and investors on Monday, October 29th. Piper Jaffray Companies analyst M. Clark now anticipates that the financial services provider will post earnings of $0.37 per share for the quarter, up from their prior forecast of $0.35. Piper Jaffray Companies currently has a “Hold” rating and a $23.00 target price on the stock. Piper Jaffray Companies also issued estimates for CVB Financial’s Q1 2019 earnings at $0.36 EPS, Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.39 EPS, FY2019 earnings at $1.52 EPS, Q1 2020 earnings at $0.38 EPS, Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.39 EPS and FY2020 earnings at $1.55 EPS.

CVBF has been the subject of several other reports. Zacks Investment Research raised CVB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. BidaskClub lowered CVB Financial from a “hold” rating to a “sell” rating in a report on Friday, September 14th. FIG Partners raised CVB Financial from a “market perform” rating to an “outperform” rating in a report on Thursday, October 25th. Hovde Group set a $25.00 target price on CVB Financial and gave the company a “hold” rating in a report on Monday, July 23rd. Finally, Wedbush reaffirmed a “neutral” rating on shares of CVB Financial in a report on Monday, July 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.10.

NASDAQ:CVBF opened at $21.67 on Tuesday. The company has a market cap of $2.30 billion, a PE ratio of 20.25, a P/E/G ratio of 1.69 and a beta of 1.38. CVB Financial has a 52 week low of $19.50 and a 52 week high of $25.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.81 and a quick ratio of 0.72.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The company had revenue of $103.43 million for the quarter, compared to the consensus estimate of $102.47 million. CVB Financial had a net margin of 34.92% and a return on equity of 11.11%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 3rd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Tuesday, October 2nd. CVB Financial’s dividend payout ratio (DPR) is 52.34%.

Hedge funds have recently modified their holdings of the stock. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in CVB Financial in the 3rd quarter worth approximately $118,000. GSA Capital Partners LLP bought a new position in CVB Financial in the 2nd quarter worth approximately $204,000. Verition Fund Management LLC bought a new position in CVB Financial in the 1st quarter worth approximately $216,000. OppenheimerFunds Inc. bought a new position in CVB Financial in the 2nd quarter worth approximately $217,000. Finally, TradeLink Capital LLC bought a new position in CVB Financial in the 2nd quarter worth approximately $224,000. 70.05% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for CVB Financial (NASDAQ:CVBF)

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