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

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 4.26%.

CVB Financial has raised its dividend by an average of 3.6% per year over the last three years. CVB Financial has a payout ratio of 52.3% indicating that 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 Up 0.4 %

Shares of NASDAQ:CVBF opened at $18.78 on Thursday. CVB Financial has a 12 month low of $15.71 and a 12 month high of $24.58. The company’s 50-day moving average price is $20.05 and its two-hundred day moving average price is $20.28. The firm has a market cap of $2.62 billion, a P/E ratio of 13.04 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last issued its quarterly earnings data on Wednesday, January 22nd. 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 29.32% and a return on equity of 9.35%. As a group, equities analysts predict that CVB Financial will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVBF has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research 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 for the company in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.