FY2024 Earnings Estimate for CVB Financial Issued By Wedbush

CVB Financial Corp. (NASDAQ:CVBF) – Investment analysts at Wedbush increased their FY2024 earnings estimates for CVB Financial in a research note issued to investors on Thursday, October 24th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $1.44 per share 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 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. The company had revenue of $126.45 million during the quarter, compared to analysts’ expectations of $126.75 million. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. CVB Financial’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share.

A number of other brokerages have also recently issued reports on CVBF. Keefe, Bruyette & Woods raised shares of CVB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $22.00 in a research report on Wednesday, October 2nd. Stephens boosted their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, CVB Financial presently has an average rating of “Hold” and an average price target of $20.25.

CVB Financial Stock Performance

Shares of CVB Financial stock opened at $19.23 on Friday. The firm has a 50-day moving average of $18.12 and a 200-day moving average of $17.45. The stock has a market cap of $2.69 billion, a PE ratio of 12.65 and a beta of 0.45. CVB Financial has a 52-week low of $15.38 and a 52-week high of $21.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CVB Financial by 12.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,891 shares of the financial services provider’s stock valued at $1,434,000 after buying an additional 8,835 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of CVB Financial in the third quarter valued at approximately $27,000. Inspire Advisors LLC increased its stake in shares of CVB Financial by 4.1% in the third quarter. Inspire Advisors LLC now owns 89,011 shares of the financial services provider’s stock valued at $1,586,000 after buying an additional 3,527 shares during the period. AlphaMark Advisors LLC increased its stake in shares of CVB Financial by 4.7% in the third quarter. AlphaMark Advisors LLC now owns 19,179 shares of the financial services provider’s stock valued at $342,000 after buying an additional 859 shares during the period. Finally, Diversified Trust Co increased its stake in shares of CVB Financial by 3.5% in the third quarter. Diversified Trust Co now owns 44,271 shares of the financial services provider’s stock valued at $789,000 after buying an additional 1,491 shares during the period. Institutional investors and hedge funds own 74.18% of the company’s stock.

CVB Financial Dividend Announcement

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

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.