CVB Financial (NASDAQ:CVBF) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01, Briefing.com reports. The company had revenue of $119.67 million during the quarter, compared to analyst estimates of $119.77 million. CVB Financial had a net margin of 40.21% and a return on equity of 10.76%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS.
Shares of NASDAQ CVBF opened at $21.11 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of 14.17 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.01. CVB Financial has a 1-year low of $19.83 and a 1-year high of $23.18. The company has a fifty day moving average price of $21.55 and a 200 day moving average price of $21.09.
The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Thursday, January 2nd. CVB Financial’s payout ratio is presently 48.65%.
A number of equities analysts recently weighed in on CVBF shares. Zacks Investment Research raised shares of CVB Financial from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Monday, January 20th. BidaskClub lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Saturday, January 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.00.
In related news, CEO Christopher D. Myers sold 16,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $21.16, for a total value of $349,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.
About CVB Financial
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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