CVB Financial (NASDAQ:CVBF) Issues Quarterly Earnings Results

CVB Financial (NASDAQ:CVBF - Get Free Report) released its earnings results on Wednesday. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02, Briefing.com reports. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The company had revenue of $126.45 million during the quarter, compared to analysts' expectations of $126.75 million. During the same quarter last year, the business earned $0.42 EPS. The business's revenue was down 8.2% on a year-over-year basis.

CVB Financial Stock Up 3.2 %

Shares of NASDAQ CVBF traded up $0.60 during midday trading on Thursday, hitting $19.59. The company had a trading volume of 1,073,833 shares, compared to its average volume of 831,719. CVB Financial has a twelve month low of $14.62 and a twelve month high of $21.77. The business has a 50-day simple moving average of $18.02 and a two-hundred day simple moving average of $17.42. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 12.89 and a beta of 0.45.

CVB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Investors of record on Monday, September 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Monday, September 30th. CVB Financial's dividend payout ratio (DPR) is 52.63%.

Analysts Set New Price Targets

CVBF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of CVB Financial from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, October 2nd. Stephens raised their target price on shares of CVB Financial from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, July 26th. Finally, Wedbush restated a "neutral" rating and issued a $20.00 target price on shares of CVB Financial in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.