CVB Financial Corporation (CVBF) Announces Quarterly Earnings Results, Hits Estimates

CVB Financial Corporation (NASDAQ:CVBF) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27, Briefing.com reports. CVB Financial Corporation had a return on equity of 10.67% and a net margin of 35.33%. During the same quarter last year, the business earned $0.23 EPS.

Shares of CVB Financial Corporation (NASDAQ:CVBF) traded up 1.03% on Wednesday, reaching $23.50. The company’s stock had a trading volume of 354,197 shares. The company’s 50 day moving average is $22.38 and its 200-day moving average is $21.68. CVB Financial Corporation has a 1-year low of $16.32 and a 1-year high of $25.25. The stock has a market cap of $2.59 billion, a PE ratio of 23.36 and a beta of 1.57.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Wednesday, October 4th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, October 3rd. CVB Financial Corporation’s payout ratio is currently 56.00%.

In other CVB Financial Corporation news, Director Anna Kan bought 4,660 shares of CVB Financial Corporation stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the acquisition, the director now owns 17,660 shares in the company, valued at approximately $379,690. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.00% of the company’s stock.

WARNING: “CVB Financial Corporation (CVBF) Announces Quarterly Earnings Results, Hits Estimates” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/18/cvb-financial-corporation-cvbf-announces-quarterly-earnings-results-hits-estimates.html.

Several research firms recently weighed in on CVBF. Zacks Investment Research raised CVB Financial Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. ValuEngine raised CVB Financial Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reissued a “hold” rating on shares of CVB Financial Corporation in a research report on Friday, October 6th. Wedbush reissued a “neutral” rating and set a $22.00 price target on shares of CVB Financial Corporation in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 price target on shares of CVB Financial Corporation in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22.60.

CVB Financial Corporation Company Profile

CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined in

Shares of CVB Financial Corporation (NASDAQ:CVBF) traded up 1.03% on Wednesday, reaching $23.50. The company’s stock had a trading volume of 354,197 shares. The company’s 50 day moving average is $22.38 and its 200-day moving average is $21.68. CVB Financial Corporation has a 1-year low of $16.32 and a 1-year high of $25.25. The stock has a market cap of $2.59 billion, a PE ratio of 23.36 and a beta of 1.57.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Wednesday, October 4th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, October 3rd. CVB Financial Corporation’s payout ratio is currently 56.00%.

In other CVB Financial Corporation news, Director Anna Kan bought 4,660 shares of CVB Financial Corporation stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $100,190.00. Following the completion of the acquisition, the director now owns 17,660 shares in the company, valued at approximately $379,690. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.00% of the company’s stock.

WARNING: “CVB Financial Corporation (CVBF) Announces Quarterly Earnings Results, Hits Estimates” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/18/cvb-financial-corporation-cvbf-announces-quarterly-earnings-results-hits-estimates.html.

Several research firms recently weighed in on CVBF. Zacks Investment Research raised CVB Financial Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. ValuEngine raised CVB Financial Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reissued a “hold” rating on shares of CVB Financial Corporation in a research report on Friday, October 6th. Wedbush reissued a “neutral” rating and set a $22.00 price target on shares of CVB Financial Corporation in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $23.00 price target on shares of CVB Financial Corporation in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22.60.

CVB Financial Corporation Company Profile

CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.

Earnings History for CVB Financial Corporation (NASDAQ:CVBF)

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