Analysts forecast that CVB Financial Corp. (NASDAQ:CVBF - Get Rating) will report sales of $129.30 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for CVB Financial's earnings. The lowest sales estimate is $128.00 million and the highest is $130.90 million. CVB Financial reported sales of $116.22 million in the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that CVB Financial will report full-year sales of $527.33 million for the current fiscal year, with estimates ranging from $522.70 million to $532.30 million. For the next fiscal year, analysts anticipate that the firm will post sales of $580.50 million, with estimates ranging from $575.60 million to $583.90 million. Zacks Investment Research's sales calculations are an average based on a survey of research analysts that that provide coverage for CVB Financial.
CVB Financial (NASDAQ:CVBF - Get Rating) last posted its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. CVB Financial had a return on equity of 9.20% and a net margin of 40.95%. The firm had revenue of $124.10 million for the quarter, compared to the consensus estimate of $120.00 million. During the same quarter last year, the company earned $0.47 earnings per share. The business's revenue for the quarter was up 5.9% compared to the same quarter last year.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded CVB Financial from a "buy" rating to a "hold" rating in a research note on Friday, April 29th. StockNews.com raised CVB Financial from a "sell" rating to a "hold" rating in a research note on Friday.
NASDAQ CVBF opened at $23.60 on Friday. The stock's 50-day moving average price is $23.36 and its 200-day moving average price is $22.37. CVB Financial has a 52 week low of $18.72 and a 52 week high of $24.37. The company has a market capitalization of $3.35 billion, a P/E ratio of 16.74 and a beta of 0.38.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 20th. Investors of record on Wednesday, April 6th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Tuesday, April 5th. CVB Financial's dividend payout ratio is currently 51.06%.
In related news, Director Kristina M. Leslie sold 6,400 shares of the stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $23.58, for a total transaction of $150,912.00. Following the completion of the sale, the director now owns 21,889 shares in the company, valued at $516,142.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company's stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Man Group plc grew its holdings in CVB Financial by 9.1% during the 3rd quarter. Man Group plc now owns 356,141 shares of the financial services provider's stock valued at $7,254,000 after buying an additional 29,641 shares in the last quarter. ProShare Advisors LLC grew its holdings in CVB Financial by 62.3% during the 4th quarter. ProShare Advisors LLC now owns 32,230 shares of the financial services provider's stock valued at $689,000 after buying an additional 12,373 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in CVB Financial by 22.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,889 shares of the financial services provider's stock valued at $340,000 after buying an additional 2,963 shares in the last quarter. Marshall Wace LLP purchased a new position in CVB Financial during the 3rd quarter valued at approximately $1,040,000. Finally, Hsbc Holdings PLC grew its holdings in CVB Financial by 41.9% during the 3rd quarter. Hsbc Holdings PLC now owns 18,200 shares of the financial services provider's stock valued at $374,000 after buying an additional 5,372 shares in the last quarter. Institutional investors and hedge funds own 68.99% of the company's stock.
About CVB Financial (Get Rating)
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.
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