Wall Street analysts forecast that CVB Financial Corp. (NASDAQ:CVBF) will report sales of $119.50 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for CVB Financial's earnings. The lowest sales estimate is $119.00 million and the highest is $119.80 million. CVB Financial reported sales of $116.48 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The firm is expected to report its next earnings results on Wednesday, October 20th.
On average, analysts expect that CVB Financial will report full-year sales of $471.67 million for the current fiscal year, with estimates ranging from $471.00 million to $472.90 million. For the next financial year, analysts forecast that the firm will post sales of $503.83 million, with estimates ranging from $462.50 million to $526.00 million. Zacks Investment Research's sales averages are an average based on a survey of research analysts that that provide coverage for CVB Financial.
CVB Financial (NASDAQ:CVBF) last released its earnings results on Tuesday, July 20th. The financial services provider reported $0.38 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.35 by $0.03. CVB Financial had a return on equity of 10.54% and a net margin of 44.44%. The company had revenue of $116.22 million during the quarter, compared to analysts' expectations of $116.43 million.
Several research analysts have recently issued reports on CVBF shares. Zacks Investment Research lowered shares of CVB Financial from a "buy" rating to a "hold" rating in a research note on Monday, July 26th. Hovde Group upgraded shares of CVB Financial from a "market perform" rating to an "outperform" rating and upped their target price for the company from $22.00 to $23.00 in a research report on Thursday, August 5th.
Shares of CVBF stock opened at $19.05 on Wednesday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 12.13 and a beta of 0.54. CVB Financial has a 12 month low of $15.57 and a 12 month high of $25.00. The stock has a 50-day moving average price of $19.75 and a 200 day moving average price of $21.27.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC bought a new position in shares of CVB Financial during the 1st quarter valued at about $3,237,000. BlackRock Inc. lifted its stake in CVB Financial by 1.2% in the first quarter. BlackRock Inc. now owns 20,053,680 shares of the financial services provider's stock valued at $442,984,000 after buying an additional 239,899 shares in the last quarter. TD Asset Management Inc. increased its position in shares of CVB Financial by 48.1% during the first quarter. TD Asset Management Inc. now owns 95,400 shares of the financial services provider's stock worth $2,107,000 after acquiring an additional 31,000 shares in the last quarter. Ergoteles LLC acquired a new stake in shares of CVB Financial during the first quarter worth $241,000. Finally, Champlain Investment Partners LLC lifted its position in CVB Financial by 0.9% in the 1st quarter. Champlain Investment Partners LLC now owns 2,621,365 shares of the financial services provider's stock valued at $57,906,000 after acquiring an additional 23,900 shares in the last quarter. Institutional investors own 68.78% of the company's stock.
About CVB Financial
CVB Financial Corp. is a bank holding company, which engages in the provision of relationship-based banking products, services, and solutions for small to mid-sized companies, real estate investors, non-profit organizations, professionals, and other individuals through its subsidiary, Citizens Business Bank.
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