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 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.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The business had revenue of $125.27 million for the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter last year, the company earned $0.40 EPS. The business’s revenue was down 5.2% on a year-over-year basis. Equities analysts expect that CVB Financial will post 1.4 EPS for the current year.

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.

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.