CVB Financial (CVBF) Scheduled to Post Quarterly Earnings on Wednesday

CVB Financial (NASDAQ:CVBF – Get Rating) will announce its earnings results after the market closes on Wednesday, January 25th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

CVB Financial Stock Performance

Shares of CVBF traded down $0.28 during trading hours on Tuesday, hitting $24.30. The stock had a trading volume of 556,742 shares, compared to its average volume of 580,769. The firm has a 50-day moving average price of $26.38 and a 200 day moving average price of $26.52. CVB Financial has a fifty-two week low of $21.44 and a fifty-two week high of $29.25. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 15.78 and a beta of 0.44.

CVB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Thursday, December 29th were given a $0.20 dividend. The ex-dividend date was Wednesday, December 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.29%. CVB Financial’s dividend payout ratio (DPR) is currently 51.95%.

Insider Transactions at CVB Financial

In related news, EVP David F. Farnsworth sold 3,447 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $28.48, for a total value of $98,170.56. Following the transaction, the executive vice president now directly owns 34,796 shares of the company’s stock, valued at approximately $990,990.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP David F. Farnsworth sold 11,553 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $28.51, for a total transaction of $329,376.03. Following the completion of the sale, the executive vice president now directly owns 34,796 shares in the company, valued at $992,033.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David F. Farnsworth sold 3,447 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $28.48, for a total value of $98,170.56. Following the completion of the transaction, the executive vice president now directly owns 34,796 shares of the company’s stock, valued at $990,990.08. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On CVB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of CVB Financial by 24.3% in the first quarter. State Street Corp now owns 7,689,996 shares of the financial services provider’s stock worth $178,485,000 after buying an additional 1,502,666 shares in the last quarter. BlackRock Inc. lifted its stake in CVB Financial by 7.7% in the 1st quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock worth $483,284,000 after purchasing an additional 1,487,960 shares in the last quarter. Eaton Vance Management boosted its holdings in shares of CVB Financial by 131.2% during the 1st quarter. Eaton Vance Management now owns 1,560,789 shares of the financial services provider’s stock worth $36,226,000 after purchasing an additional 885,786 shares during the last quarter. Vanguard Group Inc. grew its position in shares of CVB Financial by 5.2% in the first quarter. Vanguard Group Inc. now owns 15,296,047 shares of the financial services provider’s stock valued at $355,021,000 after purchasing an additional 750,265 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of CVB Financial by 93.2% in the first quarter. Invesco Ltd. now owns 744,208 shares of the financial services provider’s stock valued at $17,273,000 after purchasing an additional 358,929 shares during the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Keefe, Bruyette & Woods lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a report on Friday, October 21st. StockNews.com raised shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th.

CVB Financial Company Profile

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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.