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

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 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Wednesday, April 2nd.

CVB Financial has increased its dividend by an average of 3.6% per year over the last three years. CVB Financial has a dividend payout ratio of 52.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of CVBF stock opened at $18.46 on Monday. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The firm has a market capitalization of $2.58 billion, a PE ratio of 12.82 and a beta of 0.46. The stock’s 50-day simple moving average is $19.85 and its 200-day simple moving average is $20.37.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings data 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 net margin of 29.32% and a return on equity of 9.35%. Sell-side analysts forecast that CVB Financial will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on CVBF. Keefe, Bruyette & Woods upped their price target on shares of 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 target price 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVB Financial presently has a consensus rating of “Hold” and an average target price 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.