CVB Financial (NASDAQ:CVBF) Issues Quarterly Earnings Results

CVB Financial (NASDAQ:CVBF) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38, Zacks reports. The business had revenue of $132.12 million for the quarter, compared to analyst estimates of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.21%. During the same quarter in the previous year, the firm posted $0.36 earnings per share.

CVB Financial Stock Performance

Shares of NASDAQ CVBF traded down $0.11 during midday trading on Friday, hitting $20.10. The company’s stock had a trading volume of 267,967 shares, compared to its average volume of 1,591,903. The stock has a fifty day moving average price of $19.71 and a 200 day moving average price of $19.51. CVB Financial has a one year low of $17.94 and a one year high of $21.48. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 13.21 and a beta of 0.65.

CVB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. CVB Financial’s payout ratio is 53.33%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of CVB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 10th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, CVB Financial has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

Hedge Funds Weigh In On CVB Financial

Several hedge funds have recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its stake in CVB Financial by 1.1% during the fourth quarter. Illinois Municipal Retirement Fund now owns 67,931 shares of the financial services provider’s stock valued at $1,264,000 after acquiring an additional 742 shares in the last quarter. California State Teachers Retirement System grew its stake in CVB Financial by 0.6% during the second quarter. California State Teachers Retirement System now owns 128,667 shares of the financial services provider’s stock valued at $2,546,000 after acquiring an additional 754 shares in the last quarter. Sei Investments Co. grew its stake in CVB Financial by 4.5% during the third quarter. Sei Investments Co. now owns 17,729 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 770 shares in the last quarter. New York State Common Retirement Fund grew its stake in CVB Financial by 2.0% during the second quarter. New York State Common Retirement Fund now owns 41,117 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 819 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in CVB Financial by 1.5% during the fourth quarter. Captrust Financial Advisors now owns 63,803 shares of the financial services provider’s stock valued at $1,187,000 after acquiring an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.