Q2 2024 EPS Estimates for CVB Financial Corp. (NASDAQ:CVBF) Raised by Wedbush

CVB Financial Corp. (NASDAQ:CVBF) – Analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for shares of CVB Financial in a research report issued to clients and investors on Monday, June 24th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.35 for the quarter, up from their previous forecast of $0.34. Wedbush currently 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. Wedbush also issued estimates for CVB Financial’s FY2024 earnings at $1.44 EPS.

Several other research analysts have also issued reports on the company. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods lowered their target price 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 lowered CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday, April 22nd. Finally, Stephens reissued an “equal weight” rating and issued a $20.00 price objective on shares of CVB Financial in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, CVB Financial currently has an average rating of “Hold” and a consensus target price of $19.00.

CVB Financial Stock Up 2.7 %

Shares of NASDAQ:CVBF opened at $17.00 on Wednesday. The firm has a market cap of $2.37 billion, a P/E ratio of 11.18 and a beta of 0.46. CVB Financial has a 12-month low of $12.89 and a 12-month high of $21.77. The business has a fifty day simple moving average of $16.67 and a 200 day simple moving average of $17.55.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $126.57 million during the quarter, compared to analyst estimates of $127.46 million. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. CVB Financial’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS.

Institutional Trading of CVB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in CVB Financial during the 4th quarter valued at about $36,000. GAMMA Investing LLC acquired a new position in CVB Financial during the 4th quarter valued at about $102,000. Headlands Technologies LLC acquired a new position in CVB Financial during the 4th quarter valued at about $122,000. Assetmark Inc. boosted its stake in CVB Financial by 141.5% during the 4th quarter. Assetmark Inc. now owns 8,598 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,038 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in CVB Financial by 9,211.9% during the 1st quarter. Russell Investments Group Ltd. now owns 12,571 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 12,436 shares during the last quarter. 74.18% of the stock is owned by institutional investors.

Insider Transactions at CVB Financial

In other news, Director George A. Borba, Jr. bought 4,610 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $16.00 per share, with a total value of $73,760.00. Following the transaction, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director George A. Borba, Jr. bought 4,610 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $16.00 per share, with a total value of $73,760.00. Following the transaction, the director now directly owns 665,121 shares of the company’s stock, valued at approximately $10,641,936. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director George A. Borba, Jr. bought 34,200 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average cost of $15.99 per share, with a total value of $546,858.00. Following the completion of the transaction, the director now directly owns 660,511 shares in the company, valued at $10,561,570.89. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 39,910 shares of company stock valued at $638,669. Corporate insiders own 6.00% of the company’s stock.

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.