Analysts expect CVB Financial Corp. (NASDAQ:CVBF) to report sales of $116.33 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for CVB Financial’s earnings. The highest sales estimate is $117.30 million and the lowest is $114.70 million. CVB Financial posted sales of $116.72 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.3%. The business is scheduled to report its next quarterly earnings results on Wednesday, July 28th.
On average, analysts expect that CVB Financial will report full year sales of $465.67 million for the current year, with estimates ranging from $464.40 million to $468.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $471.23 million, with estimates ranging from $455.80 million to $491.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CVB Financial.
CVB Financial (NASDAQ:CVBF) last announced its earnings results on Tuesday, April 20th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.11. CVB Financial had a return on equity of 10.19% and a net margin of 42.25%. The company had revenue of $117.15 million for the quarter, compared to analyst estimates of $114.87 million. During the same period in the prior year, the company posted $0.27 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd lifted its holdings in CVB Financial by 495.3% during the first quarter. Point72 Hong Kong Ltd now owns 1,792 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 1,491 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of CVB Financial in the fourth quarter valued at approximately $39,000. Veriti Management LLC acquired a new position in shares of CVB Financial in the fourth quarter valued at approximately $71,000. Captrust Financial Advisors grew its position in shares of CVB Financial by 1,646.7% in the first quarter. Captrust Financial Advisors now owns 4,454 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 4,199 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of CVB Financial by 121.0% in the first quarter. Quantbot Technologies LP now owns 4,677 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 2,561 shares during the last quarter. 69.13% of the stock is owned by institutional investors.
Shares of CVBF stock traded up $0.09 on Tuesday, hitting $22.15. 2,682 shares of the stock traded hands, compared to its average volume of 476,862. The company has a market cap of $3.01 billion, a P/E ratio of 14.71 and a beta of 0.54. The stock’s fifty day moving average is $21.97. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.01. CVB Financial has a 1-year low of $15.57 and a 1-year high of $25.00.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $0.72 annualized dividend and a dividend yield of 3.25%. CVB Financial’s dividend payout ratio (DPR) is presently 55.38%.
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. The company 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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