FY2018 EPS Estimates for CVB Financial Co. (CVBF) Cut by Piper Jaffray

CVB Financial Co. (NASDAQ:CVBF) – Analysts at Piper Jaffray lowered their FY2018 earnings per share (EPS) estimates for shares of CVB Financial in a research report issued to clients and investors on Friday, April 20th. Piper Jaffray analyst M. Clark now anticipates that the financial services provider will post earnings of $1.27 per share for the year, down from their prior forecast of $1.28.

CVBF has been the topic of several other reports. Zacks Investment Research upgraded shares of CVB Financial from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Thursday, April 5th. Sandler O’Neill reiterated a “hold” rating and issued a $24.00 target price on shares of CVB Financial in a report on Thursday, January 4th. BidaskClub lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Hovde Group set a $25.00 target price on shares of CVB Financial and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.00 target price on shares of CVB Financial in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.00.

NASDAQ:CVBF opened at $22.77 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2,455.47, a price-to-earnings ratio of 21.28, a PEG ratio of 1.84 and a beta of 1.38. CVB Financial has a 1-year low of $19.58 and a 1-year high of $25.49.

CVB Financial (NASDAQ:CVBF) last posted its earnings results on Wednesday, April 18th. The financial services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $83.44 million for the quarter, compared to analyst estimates of $82.03 million. CVB Financial had a net margin of 32.71% and a return on equity of 11.61%. During the same period in the previous year, the business posted $0.26 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 19th. Stockholders of record on Thursday, April 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, April 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.46%. CVB Financial’s dividend payout ratio is currently 52.34%.

In other news, CEO Christopher D. Myers sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $23.85, for a total value of $477,000.00. Following the transaction, the chief executive officer now directly owns 327,336 shares in the company, valued at approximately $7,806,963.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of CVB Financial by 6.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the financial services provider’s stock worth $1,039,000 after acquiring an additional 2,600 shares during the last quarter. Swiss National Bank lifted its holdings in shares of CVB Financial by 2.2% in the 4th quarter. Swiss National Bank now owns 176,400 shares of the financial services provider’s stock worth $4,156,000 after acquiring an additional 3,800 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of CVB Financial by 17.2% in the 4th quarter. Millennium Management LLC now owns 26,222 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 3,852 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of CVB Financial by 2.9% in the 4th quarter. Teachers Advisors LLC now owns 190,318 shares of the financial services provider’s stock worth $4,484,000 after acquiring an additional 5,354 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of CVB Financial by 4.6% in the 4th quarter. California Public Employees Retirement System now owns 137,156 shares of the financial services provider’s stock worth $3,231,000 after acquiring an additional 5,984 shares during the last quarter. Hedge funds and other institutional investors own 69.88% of the company’s stock.

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CVB Financial Company Profile

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking, lending, trust, and investment services for small to mid-sized businesses and individuals. It operates in two segments, Banking Centers; and Dairy & Livestock and Agribusiness. The company offers various deposit products, including checking, savings, money market, and time certificates of deposit for business and personal accounts, as well as serves as a federal tax depository for business customers.

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

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