Q4 2024 EPS Estimates for CVB Financial Corp. Cut by Analyst (NASDAQ:CVBF)

CVB Financial Corp. (NASDAQ:CVBF) – Wedbush lowered their Q4 2024 earnings per share (EPS) estimates for shares of CVB Financial in a research report issued on Monday, June 24th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $0.37 for the quarter, down from their previous forecast of $0.38. Wedbush has a “Neutral” rating and a $19.00 price target on the stock. The consensus estimate for CVB Financial’s current full-year earnings is $1.41 per share.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The firm had revenue of $126.57 million during the quarter, compared to the consensus estimate of $127.46 million. During the same period last year, the business posted $0.42 EPS. CVB Financial’s quarterly revenue was down 8.9% on a year-over-year basis.

Several other research firms also recently weighed in on CVBF. Keefe, Bruyette & Woods dropped their price target on CVB Financial from $20.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Hovde Group downgraded CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a research report on Monday, April 22nd. Stephens reissued an “equal weight” rating and set a $20.00 price target on shares of CVB Financial in a research report on Thursday, April 25th. Finally, Janney Montgomery Scott downgraded CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, CVB Financial presently has an average rating of “Hold” and an average price target of $19.00.

CVB Financial Stock Performance

CVB Financial stock opened at $16.28 on Tuesday. The stock has a fifty day moving average of $16.63 and a two-hundred day moving average of $17.56. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.71 and a beta of 0.46. CVB Financial has a fifty-two week low of $12.89 and a fifty-two week high of $21.77.

Institutional Investors Weigh In On CVB Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of CVB Financial in the fourth quarter worth about $36,000. GAMMA Investing LLC purchased a new stake in shares of CVB Financial in the fourth quarter worth about $102,000. Headlands Technologies LLC purchased a new stake in shares of CVB Financial in the fourth quarter worth about $122,000. Assetmark Inc. boosted its position in shares of CVB Financial by 141.5% in the fourth quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock worth $174,000 after buying an additional 5,038 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of CVB Financial by 9,211.9% in the first quarter. Russell Investments Group Ltd. now owns 12,571 shares of the financial services provider’s stock worth $224,000 after buying an additional 12,436 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.

Insider Transactions at CVB Financial

In other CVB Financial news, Director George A. Borba, Jr. acquired 34,200 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $15.99 per share, for a total transaction of $546,858.00. Following the completion of the acquisition, the director now directly owns 660,511 shares of the company’s stock, valued at $10,561,570.89. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director George A. Borba, Jr. purchased 34,200 shares of the stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $15.99 per share, with a total value of $546,858.00. Following the completion of the transaction, the director now owns 660,511 shares in the company, valued at $10,561,570.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George A. Borba, Jr. purchased 4,610 shares of the stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $16.00 per share, with a total value of $73,760.00. Following the transaction, the director now owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The disclosure for this purchase can be found here. Insiders have acquired 39,910 shares of company stock worth $638,669 over the last quarter. 6.00% of the stock is currently owned by insiders.

About CVB Financial

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.