CVB Financial (NASDAQ:CVBF) Releases Earnings Results, Meets Expectations

CVB Financial (NASDAQ:CVBF) issued its earnings results on Wednesday. The financial services provider reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38, Zacks reports. CVB Financial had a net margin of 32.28% and a return on equity of 9.25%. During the same quarter in the prior year, the company earned $0.36 earnings per share.

CVB Financial Stock Performance

Shares of NASDAQ CVBF traded up $0.08 during midday trading on Wednesday, reaching $20.37. 2,135,856 shares of the company were exchanged, compared to its average volume of 1,602,461. The stock has a market cap of $2.77 billion, a P/E ratio of 13.58 and a beta of 0.65. CVB Financial has a 1 year low of $17.94 and a 1 year high of $21.48. The stock has a fifty day simple moving average of $19.72 and a 200 day simple moving average of $19.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.22.

CVB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.9%. CVB Financial’s dividend payout ratio is 53.33%.

Analyst Ratings Changes

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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

Institutional Investors Weigh In On CVB Financial

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in CVB Financial by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,281,980 shares of the financial services provider’s stock worth $135,447,000 after acquiring an additional 171,971 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in CVB Financial by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,488,821 shares of the financial services provider’s stock valued at $102,092,000 after acquiring an additional 67,563 shares during the period. HoldCo Asset Management LP boosted its position in shares of CVB Financial by 17,051.0% during the 4th quarter. HoldCo Asset Management LP now owns 2,223,972 shares of the financial services provider’s stock worth $41,366,000 after purchasing an additional 2,211,005 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of CVB Financial by 3.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,031,381 shares of the financial services provider’s stock worth $37,784,000 after purchasing an additional 74,914 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in CVB Financial by 1.0% during the fourth quarter. Wellington Management Group LLP now owns 1,075,272 shares of the financial services provider’s stock worth $20,000,000 after buying an additional 10,545 shares during the period. 74.18% of the stock is owned by institutional investors and hedge funds.

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.