CVB Financial Corp. (CVBF) Expected to Announce Quarterly Sales of $121.72 Million

Equities analysts expect CVB Financial Corp. (NASDAQ:CVBF) to post $121.72 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for CVB Financial’s earnings. The highest sales estimate is $122.70 million and the lowest is $120.70 million. CVB Financial reported sales of $82.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 47.8%. The business is expected to report its next quarterly earnings results on Wednesday, July 17th.

According to Zacks, analysts expect that CVB Financial will report full year sales of $491.94 million for the current fiscal year, with estimates ranging from $490.10 million to $496.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $504.44 million, with estimates ranging from $490.00 million to $511.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for CVB Financial.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $125.84 million during the quarter, compared to the consensus estimate of $121.24 million. CVB Financial had a net margin of 37.39% and a return on equity of 10.16%. During the same quarter last year, the firm earned $0.32 earnings per share.

CVBF has been the subject of a number of analyst reports. BidaskClub upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. FIG Partners lowered shares of CVB Financial from an “outperform” rating to a “market-perform” rating in a research note on Thursday, January 24th. Finally, Zacks Investment Research lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. CVB Financial presently has an average rating of “Hold” and an average target price of $24.90.

In other news, Director Anna Kan sold 4,660 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $21.74, for a total transaction of $101,308.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher D. Myers sold 53,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $21.71, for a total transaction of $1,150,630.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,660 shares of company stock worth $3,228,758. Corporate insiders own 5.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in CVB Financial by 2.2% in the 4th quarter. BlackRock Inc. now owns 15,840,480 shares of the financial services provider’s stock worth $320,453,000 after buying an additional 344,230 shares during the period. Vanguard Group Inc lifted its holdings in CVB Financial by 12.8% in the 3rd quarter. Vanguard Group Inc now owns 11,983,877 shares of the financial services provider’s stock valued at $267,480,000 after purchasing an additional 1,361,412 shares in the last quarter. Vanguard Group Inc. lifted its holdings in CVB Financial by 12.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,983,877 shares of the financial services provider’s stock valued at $267,480,000 after purchasing an additional 1,361,412 shares in the last quarter. Cliffwater LLC lifted its holdings in CVB Financial by 56.3% in the 4th quarter. Cliffwater LLC now owns 8,038,386 shares of the financial services provider’s stock valued at $162,617,000 after purchasing an additional 2,895,796 shares in the last quarter. Finally, FMR LLC lifted its holdings in CVB Financial by 5.9% in the 4th quarter. FMR LLC now owns 3,676,442 shares of the financial services provider’s stock valued at $74,374,000 after purchasing an additional 204,716 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

NASDAQ:CVBF traded up $0.02 on Friday, hitting $21.38. 332,913 shares of the stock were exchanged, compared to its average volume of 449,306. The firm has a market capitalization of $3.11 billion, a PE ratio of 17.23, a P/E/G ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.85 and a quick ratio of 0.85. CVB Financial has a fifty-two week low of $19.21 and a fifty-two week high of $24.97.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Saturday, April 6th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, April 4th. This represents a $0.72 annualized dividend and a dividend yield of 3.37%. This is an increase from CVB Financial’s previous quarterly dividend of $0.14. CVB Financial’s dividend payout ratio is 58.06%.

CVB Financial Company Profile

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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Earnings History and Estimates for CVB Financial (NASDAQ:CVBF)

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