CVB Financial Corp. (CVBF) to Issue Quarterly Dividend of $0.20 on April 16th

CVB Financial Corp. (NASDAQ:CVBF) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Investors of record on Wednesday, April 2nd will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, April 16th. This represents a $0.80 annualized dividend and a yield of 4.30%. The ex-dividend date is Wednesday, April 2nd.

CVB Financial has raised its dividend by an average of 3.6% annually over the last three years. CVB Financial has a dividend payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CVB Financial to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 54.1%.

CVB Financial Stock Down 0.9 %

Shares of CVBF opened at $18.61 on Friday. CVB Financial has a 12-month low of $15.71 and a 12-month high of $24.58. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 12.92 and a beta of 0.46. The stock’s 50-day moving average price is $20.01 and its 200 day moving average price is $20.27.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Equities research analysts expect that CVB Financial will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVBF. Stephens lowered their price objective on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.20.

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.