Q3 2017 EPS Estimates for CVB Financial Corp. (CVBF) Raised by Analyst
CVB Financial Corp. (NASDAQ:CVBF) – Equities research analysts at FIG Partners increased their Q3 2017 EPS estimates for CVB Financial Corp. in a research note issued to investors on Tuesday. FIG Partners analyst T. Coffey now anticipates that the brokerage will post earnings per share of $0.28 for the quarter, up from their previous estimate of $0.27. FIG Partners also issued estimates for CVB Financial Corp.’s Q4 2017 earnings at $0.30 EPS and FY2017 earnings at $1.11 EPS.
CVBF has been the topic of a number of other research reports. Zacks Investment Research lowered CVB Financial Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Keefe, Bruyette & Woods boosted their target price on CVB Financial Corp. from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday. DA Davidson restated a “hold” rating and set a $18.00 target price on shares of CVB Financial Corp. in a research report on Monday, September 26th. Finally, Hovde Group assumed coverage on CVB Financial Corp. in a research report on Wednesday, June 22nd. They set a “market perform” rating and a $17.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $18.25.
CVB Financial Corp. (NASDAQ:CVBF) traded up 1.38% during trading on Thursday, hitting $17.61. The company had a trading volume of 514,810 shares. The firm has a 50-day moving average of $17.32 and a 200 day moving average of $17.00. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 17.99 and a beta of 1.57. CVB Financial Corp. has a 12-month low of $14.02 and a 12-month high of $18.77.
CVB Financial Corp. (NASDAQ:CVBF) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. CVB Financial Corp. had a return on equity of 11.07% and a net margin of 34.99%. During the same period last year, the business earned $0.25 EPS.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in CVB Financial Corp. during the fourth quarter worth approximately $11,803,000. Vanguard Group Inc. boosted its position in CVB Financial Corp. by 6.9% in the second quarter. Vanguard Group Inc. now owns 8,095,253 shares of the financial services provider’s stock worth $132,681,000 after buying an additional 524,198 shares during the last quarter. BTIM Corp. boosted its position in CVB Financial Corp. by 107.7% in the second quarter. BTIM Corp. now owns 996,479 shares of the financial services provider’s stock worth $16,332,000 after buying an additional 516,739 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in CVB Financial Corp. by 12.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 3,399,077 shares of the financial services provider’s stock worth $55,711,000 after buying an additional 379,760 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in CVB Financial Corp. by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,533,379 shares of the financial services provider’s stock worth $61,657,000 after buying an additional 352,730 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.
In related news, CEO Christopher D. Myers sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $17.00, for a total value of $425,000.00. Following the completion of the sale, the chief executive officer now owns 355,052 shares in the company, valued at $6,035,884. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Brager sold 8,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $17.08, for a total value of $136,640.00. Following the completion of the sale, the executive vice president now owns 25,113 shares of the company’s stock, valued at approximately $428,930.04. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be issued a $0.12 dividend. The ex-dividend date is Monday, October 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 2.73%. CVB Financial Corp.’s dividend payout ratio is presently 48.98%.
CVB Financial Corp. Company Profile
CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank’s segments include Business Financial and Commercial Banking Centers (Centers), Treasury and Others. The Company’s all administrative and other smaller operating departments are combined into the Other segment.
Receive News & Stock Ratings for CVB Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial Corp. and related stocks with our FREE daily email newsletter.