CVB Financial (NASDAQ:CVBF) Posts Earnings Results, Beats Estimates By $0.18 EPS

Key Points

• CVB Financial reported quarterly EPS of $0.38, beating estimates by $0.18; the company posted a net margin of 32.28% and ROE of 9.25%, and the stock rose about 0.4% to $20.37 on higher-than-average volume.
• The board declared a quarterly dividend of $0.20 per share (annualized $0.80), a 3.9% yield with a payout ratio of 53.33%.
• Institutional ownership is roughly 74.2% with notable inflows from Invesco and others, and analysts rate the stock a "Moderate Buy" with an average target of $24.17 (Weiss upgraded to "Buy").

CVB Financial (NASDAQ:CVBF - Get Free Report) released its quarterly earnings results on Wednesday. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.18, Zacks reports. CVB Financial had a net margin of 32.28% and a return on equity of 9.25%.

CVB Financial Stock Up 0.4%

Shares of CVBF traded up $0.08 during trading hours on Wednesday, reaching $20.37. 2,135,856 shares of the stock traded hands, compared to its average volume of 1,602,461. 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 stock has a fifty day simple moving average of $19.72 and a 200 day simple moving average of $19.50. CVB Financial has a 52 week low of $17.94 and a 52 week high of $21.48. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 13.58 and a beta of 0.65.

CVB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, April 1st. CVB Financial's dividend payout ratio (DPR) is presently 53.33%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Invesco Ltd. raised its position in CVB Financial by 35.2% in the fourth quarter. Invesco Ltd. now owns 532,352 shares of the financial services provider's stock worth $9,902,000 after acquiring an additional 138,661 shares during the period. Mercer Global Advisors Inc. ADV raised its position in CVB Financial by 418.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 91,906 shares of the financial services provider's stock worth $1,709,000 after acquiring an additional 74,169 shares during the period. XTX Topco Ltd increased its stake in shares of CVB Financial by 26.1% during the 4th quarter. XTX Topco Ltd now owns 20,544 shares of the financial services provider's stock worth $382,000 after purchasing an additional 4,253 shares during the last quarter. VARCOV Co. bought a new stake in shares of CVB Financial in the 4th quarter worth approximately $991,000. Finally, Wellington Management Group LLP raised its holdings in shares of CVB Financial by 1.0% in the 4th quarter. Wellington Management Group LLP now owns 1,075,272 shares of the financial services provider's stock worth $20,000,000 after purchasing an additional 10,545 shares during the period. 74.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.17.

CVB Financial Company Profile

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.

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