DA Davidson Equities Analysts Cut Earnings Estimates for CVB Financial Corporation (CVBF)
CVB Financial Corporation (NASDAQ:CVBF) – Analysts at DA Davidson dropped their FY2017 earnings estimates for CVB Financial in a report released on Friday. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $1.07 per share for the year, down from their prior forecast of $1.08. DA Davidson also issued estimates for CVB Financial’s Q1 2018 earnings at $0.28 EPS, Q2 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.30 EPS and FY2019 earnings at $1.23 EPS.
Other equities analysts have also recently issued research reports about the company. ValuEngine raised CVB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of CVB Financial in a research note on Friday, October 6th. Finally, Zacks Investment Research raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $23.20.
CVB Financial (CVBF) opened at $24.82 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.69. CVB Financial has a 12 month low of $19.58 and a 12 month high of $25.49. The firm has a market capitalization of $2,702.14, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.43 and a beta of 1.50.
CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. CVB Financial had a return on equity of 10.89% and a net margin of 35.60%. The firm had revenue of $81.78 million for the quarter, compared to analysts’ expectations of $81.78 million. During the same quarter last year, the business posted $0.23 EPS.
Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in CVB Financial by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 231,194 shares of the financial services provider’s stock valued at $5,186,000 after acquiring an additional 5,023 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CVB Financial by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,356,634 shares of the financial services provider’s stock valued at $52,860,000 after buying an additional 63,017 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of CVB Financial by 10.4% during the 2nd quarter. Legal & General Group Plc now owns 195,932 shares of the financial services provider’s stock valued at $4,395,000 after buying an additional 18,531 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of CVB Financial by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 53,436 shares of the financial services provider’s stock valued at $1,199,000 after buying an additional 900 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of CVB Financial by 1.1% during the 2nd quarter. Aperio Group LLC now owns 28,853 shares of the financial services provider’s stock valued at $647,000 after buying an additional 328 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors.
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About CVB Financial
CVB Financial Corp. (CVB) is the bank holding company for Citizens Business Bank (the Bank). The Bank operates through two segments: Business Financial and Commercial Banking Centers (Centers), and Other Operations. The Company’s administrative and other smaller operating departments are combined into the Other segment.
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