CVB Financial (CVBF) Scheduled to Post Earnings on Thursday

CVB Financial (NASDAQ:CVBF) is scheduled to announce its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.35 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $125.27 million during the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. CVB Financial’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. On average, analysts expect CVB Financial to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CVB Financial Trading Up 1.4 %

Shares of NASDAQ CVBF opened at $19.68 on Thursday. The firm’s 50-day moving average is $17.77 and its 200-day moving average is $17.34. CVB Financial has a 1 year low of $14.62 and a 1 year high of $21.77. The firm has a market capitalization of $2.75 billion, a PE ratio of 12.95 and a beta of 0.45.

CVB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were issued a $0.20 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.07%. CVB Financial’s dividend payout ratio is presently 52.63%.

Analyst Ratings Changes

CVBF has been the subject of several recent analyst reports. Stephens upped their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Wedbush dropped their target price on CVB Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.25.

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.