Research Analysts Issue Forecasts for CVB Financial Corp.’s FY2024 Earnings (NASDAQ:CVBF)

CVB Financial Corp. (NASDAQ:CVBF) – Equities researchers at DA Davidson dropped their FY2024 earnings estimates for shares of CVB Financial in a note issued to investors on Wednesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $1.45 for the year, down from their previous forecast of $1.49. The consensus estimate for CVB Financial’s current full-year earnings is $1.49 per share. DA Davidson also issued estimates for CVB Financial’s FY2025 earnings at $1.50 EPS.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $138.52 million for the quarter, compared to the consensus estimate of $134.88 million. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%.

Several other analysts also recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Wedbush lowered their price objective on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Finally, StockNews.com upgraded shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.67.

CVB Financial Stock Performance

Shares of CVBF stock opened at $15.85 on Thursday. The company has a market capitalization of $2.21 billion, a P/E ratio of 9.97 and a beta of 0.46. The company’s 50 day moving average price is $17.07 and its two-hundred day moving average price is $17.68. CVB Financial has a 52 week low of $10.66 and a 52 week high of $21.77.

Hedge Funds Weigh In On CVB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in CVB Financial during the fourth quarter worth $36,000. Point72 Hong Kong Ltd bought a new position in CVB Financial during the fourth quarter worth $42,000. FMR LLC boosted its position in CVB Financial by 96.0% during the second quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 860 shares during the period. Royal Bank of Canada boosted its position in CVB Financial by 277.7% during the third quarter. Royal Bank of Canada now owns 2,878 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,116 shares during the period. Finally, Point72 Middle East FZE bought a new position in CVB Financial during the fourth quarter worth $92,000. 74.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO David A. Brager bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the chief executive officer now owns 152,814 shares in the company, valued at $2,559,634.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director George A. Borba, Jr. bought 59,601 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the acquisition, the director now owns 626,311 shares in the company, valued at $10,509,498.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David A. Brager bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average price of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the chief executive officer now owns 152,814 shares of the company’s stock, valued at approximately $2,559,634.50. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 63,601 shares of company stock worth $1,067,145. Insiders own 6.00% of the company’s stock.

CVB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were issued a $0.20 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.05%. CVB Financial’s dividend payout ratio (DPR) is presently 50.31%.

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.