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

CVB Financial Corp. (NASDAQ:CVBF) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders 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 4.26%.

CVB Financial has raised its dividend by an average of 3.6% annually over the last three years. CVB Financial has a payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.4 %

CVBF traded up $0.07 during trading on Wednesday, hitting $18.78. 600,128 shares of the company’s stock traded hands, compared to its average volume of 757,699. The company’s 50 day simple moving average is $20.08 and its two-hundred day simple moving average is $20.29. CVB Financial has a 12-month low of $15.71 and a 12-month high of $24.58. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.04 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS 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%. On average, equities analysts expect that CVB Financial will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVBF shares. Keefe, Bruyette & Woods increased their price target on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Stephens lowered their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.20.

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.