CVB Financial Corp. (NASDAQ:CVBF) Declares $0.20 Quarterly Dividend

CVB Financial Corp. (NASDAQ:CVBF) declared a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.20 per share by the financial services provider on Monday, October 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Monday, September 30th.

CVB Financial has decreased its dividend by an average of 12.6% per year over the last three years. CVB Financial has a payout ratio of 55.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect CVB Financial to earn $1.45 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 55.2%.

CVB Financial Price Performance

Shares of CVBF stock traded down $0.19 during trading hours on Wednesday, reaching $17.92. The company had a trading volume of 53,003 shares, compared to its average volume of 827,852. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 11.91 and a beta of 0.45. CVB Financial has a 12 month low of $14.62 and a 12 month high of $21.77. The business has a fifty day simple moving average of $17.93 and a 200-day simple moving average of $17.20.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 24th. 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 10.41% and a net margin of 29.58%. The business had revenue of $125.27 million for the quarter, compared to analysts’ expectations of $126.86 million. During the same period last year, the business earned $0.40 EPS. The business’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts expect that CVB Financial will post 1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CVBF shares. Stephens increased their price target on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Finally, Wedbush lifted their price objective on CVB Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.00.

Insider Activity

In related news, Director Kimberly H. Sheehy sold 2,961 shares of CVB Financial stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the completion of the sale, the director now owns 13,156 shares of the company’s stock, valued at $225,493.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.