CVB Financial Corp. (NASDAQ:CVBF – Get Free Report) 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 dividend yield of 4.51%. The ex-dividend date is Monday, September 30th.
CVB Financial has decreased its dividend payment by an average of 12.6% annually over the last three years. CVB Financial has a payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.5 %
CVB Financial stock opened at $17.73 on Friday. The business’s 50-day moving average price is $17.85 and its 200 day moving average price is $17.23. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 11.66 and a beta of 0.45. CVB Financial has a 52 week low of $14.62 and a 52 week high of $21.77.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 price target (up previously from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Wedbush reduced their price objective on shares of CVB Financial from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Stephens lifted their target price on shares of CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, CVB Financial presently has a consensus rating of “Hold” and an average target price of $19.75.
Get Our Latest Stock Analysis on CVB Financial
Insider Buying and Selling at CVB Financial
In other news, Director Kimberly H. Sheehy sold 2,961 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this link. 6.00% of the stock is currently owned by insiders.
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.
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