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

CVB Financial (NASDAQ:CVBF) posted its earnings results on Wednesday. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 %

CVB Financial stock opened at $20.69 on Thursday. CVB Financial has a 12-month low of $15.71 and a 12-month high of $24.58. The firm has a 50-day moving average price of $22.10 and a 200-day moving average price of $19.72. The firm has a market capitalization of $2.89 billion, a PE ratio of 14.47 and a beta of 0.50.

CVB Financial Announces Dividend

The company also recently announced 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 of this dividend was Tuesday, December 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.87%. CVB Financial’s dividend payout ratio (DPR) is presently 55.94%.

Analyst Ratings Changes

Several equities analysts have commented on CVBF shares. Piper Sandler lowered their price objective on shares of CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of CVB Financial in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.