CVB Financial (NASDAQ:CVBF) Announces Earnings Results

by · The Markets Daily

CVB Financial (NASDAQ:CVBF – Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02, Zacks reports. CVB Financial had a net margin of 28.29% and a return on equity of 9.80%.

CVB Financial Trading Down 0.3 %

Shares of NASDAQ:CVBF traded down $0.06 on Wednesday, reaching $20.69. 1,033,836 shares of the company traded hands, compared to its average volume of 815,842. The stock has a market capitalization of $2.89 billion, a P/E ratio of 14.47 and a beta of 0.50. CVB Financial has a 52 week low of $15.71 and a 52 week high of $24.58. The business’s 50-day simple moving average is $22.10 and its 200 day simple moving average is $19.72.

CVB Financial Announces Dividend

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

Analyst Upgrades and Downgrades

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

Get Our Latest Analysis on CVBF

CVB Financial Company Profile

(Get Free Report)

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.

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