FY2024 Earnings Estimate for CVB Financial Issued By Wedbush

CVB Financial Corp. (NASDAQ:CVBF) – Equities research analysts at Wedbush lifted their FY2024 earnings estimates for shares of CVB Financial in a research report issued to clients and investors on Thursday, October 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $1.44 for the year, up from their prior forecast of $1.40. Wedbush has a “Neutral” rating and a $20.00 price objective on the stock. The consensus estimate for CVB Financial’s current full-year earnings is $1.40 per share. Wedbush also issued estimates for CVB Financial’s Q1 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.36 EPS, Q1 2026 earnings at $0.37 EPS, Q2 2026 earnings at $0.38 EPS and Q3 2026 earnings at $0.38 EPS.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The company had revenue of $126.45 million for the quarter, compared to the consensus estimate of $126.75 million. During the same period in the previous year, the firm posted $0.42 EPS. CVB Financial’s revenue for the quarter was down 8.2% compared to the same quarter last year.

CVBF has been the topic of a number of other research reports. Stephens lifted their price objective on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods upgraded shares of CVB Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $22.00 in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.25.

CVB Financial Trading Down 1.8 %

Shares of CVBF stock opened at $19.23 on Friday. The stock’s 50-day moving average price is $18.12 and its 200-day moving average price is $17.45. CVB Financial has a 12-month low of $15.38 and a 12-month high of $21.77. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 12.65 and a beta of 0.45.

Institutional Trading of CVB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CVBF. Vanguard Group Inc. increased its position in CVB Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 15,701,547 shares of the financial services provider’s stock valued at $317,014,000 after acquiring an additional 176,694 shares during the last quarter. American Century Companies Inc. grew its holdings in CVB Financial by 1.0% during the 2nd quarter. American Century Companies Inc. now owns 5,813,290 shares of the financial services provider’s stock valued at $100,221,000 after purchasing an additional 58,774 shares during the last quarter. Dimensional Fund Advisors LP raised its position in CVB Financial by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,649,691 shares of the financial services provider’s stock worth $97,399,000 after purchasing an additional 816,176 shares during the period. Sei Investments Co. lifted its stake in CVB Financial by 2.9% in the second quarter. Sei Investments Co. now owns 628,921 shares of the financial services provider’s stock worth $10,843,000 after purchasing an additional 17,483 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of CVB Financial by 7.3% during the first quarter. Bessemer Group Inc. now owns 539,730 shares of the financial services provider’s stock valued at $9,629,000 after buying an additional 36,894 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

CVB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Monday, September 30th. CVB Financial’s dividend payout ratio is currently 52.63%.

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.