CVB Financial (NASDAQ:CVBF) Issues Earnings Results

CVB Financial (NASDAQ:CVBF) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02, Zacks reports. CVB Financial had a net margin of 29.32% and a return on equity of 9.41%.

CVB Financial Price Performance

CVBF opened at $20.66 on Friday. The business has a 50 day moving average price of $22.06 and a two-hundred day moving average price of $19.73. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 14.35 and a beta of 0.50. CVB Financial has a 1-year low of $15.71 and a 1-year high of $24.58.

CVB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 3.87%. CVB Financial’s payout ratio is 55.56%.

Analysts Set New Price Targets

CVBF has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of CVB Financial in a research note on Thursday, October 24th. Piper Sandler reduced their price objective on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $25.00 target price on shares of CVB Financial in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CVB Financial currently has an average rating of “Hold” and a consensus target price of $22.60.

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.