Q2 2024 EPS Estimates for CVB Financial Corp. (NASDAQ:CVBF) Lowered by Analyst

CVB Financial Corp. (NASDAQ:CVBF) – Wedbush decreased their Q2 2024 earnings per share estimates for shares of CVB Financial in a research note issued to investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $0.34 per share for the quarter, down from their prior estimate of $0.38. Wedbush has a “Neutral” rating and a $19.00 price target on the stock. The consensus estimate for CVB Financial’s current full-year earnings is $1.43 per share. Wedbush also issued estimates for CVB Financial’s Q3 2024 earnings at $0.37 EPS, Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.43 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.40 EPS.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $127.46 million. CVB Financial had a return on equity of 10.94% and a net margin of 30.93%. CVB Financial’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS.

CVBF has been the subject of a number of other research reports. Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a report on Monday, April 22nd. Stephens reissued an “equal weight” rating and set a $20.00 target price on shares of CVB Financial in a report on Thursday. Keefe, Bruyette & Woods reduced their target price on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a report on Friday. Finally, StockNews.com raised CVB Financial to a “sell” rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

CVB Financial Price Performance

Shares of CVB Financial stock opened at $16.48 on Friday. The business has a 50 day simple moving average of $16.98 and a two-hundred day simple moving average of $17.70. CVB Financial has a 12 month low of $10.66 and a 12 month high of $21.77. The stock has a market capitalization of $2.30 billion, a P/E ratio of 10.84 and a beta of 0.46.

Institutional Trading of CVB Financial

Several hedge funds have recently modified their holdings of the stock. Diversified Trust Co raised its stake in shares of CVB Financial by 6.5% in the first quarter. Diversified Trust Co now owns 39,480 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 2,394 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CVB Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after acquiring an additional 176,694 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of CVB Financial by 104.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,897,667 shares of the financial services provider’s stock valued at $78,694,000 after acquiring an additional 1,994,369 shares in the last quarter. Woodward Diversified Capital LLC acquired a new stake in shares of CVB Financial in the fourth quarter valued at $392,000. Finally, Schroder Investment Management Group raised its stake in CVB Financial by 12.5% in the fourth quarter. Schroder Investment Management Group now owns 863,044 shares of the financial services provider’s stock valued at $17,425,000 after buying an additional 95,970 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

CVB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Wednesday, April 3rd were given 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 4.85%. CVB Financial’s dividend payout ratio (DPR) is presently 52.63%.

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.