CVB Financial (NASDAQ:CVBF) Announces Earnings Results, Beats Estimates By $0.02 EPS

CVB Financial (NASDAQ:CVBF) released its quarterly earnings data on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02, Zacks reports. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%.

CVB Financial Stock Down 0.3 %

Shares of CVBF stock traded down $0.06 during trading hours on Wednesday, hitting $20.69. 1,033,836 shares of the company were exchanged, compared to its average volume of 815,842. The firm has a market cap of $2.89 billion, a PE ratio of 14.47 and a beta of 0.50. CVB Financial has a 1 year low of $15.71 and a 1 year high of $24.58. The firm has a fifty day moving average of $22.10 and a 200 day moving average of $19.72.

CVB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Tuesday, December 31st. CVB Financial’s payout ratio is 55.94%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a research note on Thursday, October 24th. Piper Sandler decreased their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised their price objective on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, CVB Financial currently has an average rating of “Hold” and a consensus target price of $21.80.

CVB Financial Company Profile

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.