$116.33 Million in Sales Expected for CVB Financial Corp. (NASDAQ:CVBF) This Quarter

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.

Separately, Zacks Investment Research raised CVB Financial from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday.

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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