FY2024 Earnings Estimate for CVB Financial Corp. Issued By DA Davidson (NASDAQ:CVBF)

CVB Financial Corp. (NASDAQ:CVBF) – Analysts at DA Davidson cut their FY2024 earnings per share estimates for shares of CVB Financial in a research note issued on Wednesday, April 17th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $1.45 per share for the year, down from their previous estimate of $1.49. The consensus estimate for CVB Financial’s current full-year earnings is $1.48 per share. DA Davidson also issued estimates for CVB Financial’s FY2025 earnings at $1.50 EPS.

CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. CVB Financial had a return on equity of 11.50% and a net margin of 33.26%. The company had revenue of $138.52 million during the quarter, compared to analyst estimates of $134.88 million.

A number of other research firms have also weighed in on CVBF. Wedbush reduced their price objective on CVB Financial from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. StockNews.com raised CVB Financial to a “sell” rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods cut their target price on CVB Financial from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.67.

CVB Financial Stock Up 4.1 %

CVBF stock opened at $16.63 on Thursday. CVB Financial has a twelve month low of $10.66 and a twelve month high of $21.77. The firm has a market cap of $2.32 billion, a PE ratio of 10.46 and a beta of 0.46. The business has a 50 day moving average of $17.04 and a 200 day moving average of $17.67.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were paid 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 4.81%. CVB Financial’s dividend payout ratio (DPR) is currently 50.31%.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. purchased 59,601 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the purchase, the director now directly owns 626,311 shares in the company, valued at approximately $10,509,498.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO E Allen Nicholson bought 2,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $16.77 per share, for a total transaction of $33,540.00. Following the completion of the transaction, the chief financial officer now owns 92,310 shares of the company’s stock, valued at $1,548,038.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George A. Borba, Jr. bought 59,601 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now directly owns 626,311 shares of the company’s stock, valued at approximately $10,509,498.58. The disclosure for this purchase can be found here. Insiders have bought a total of 63,601 shares of company stock worth $1,067,145 in the last ninety days. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On CVB Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new position in CVB Financial during the fourth quarter valued at $36,000. Point72 Hong Kong Ltd purchased a new position in CVB Financial during the fourth quarter valued at $42,000. FMR LLC lifted 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 valued at $44,000 after purchasing an additional 860 shares in the last quarter. Royal Bank of Canada lifted 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 valued at $73,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Point72 Middle East FZE bought a new stake in CVB Financial during the fourth quarter valued at about $92,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

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.