CVB Financial Corp. (CVBF) to Issue Quarterly Dividend of $0.20 on April 16th

CVB Financial Corp. (NASDAQ:CVBF) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders of record on Wednesday, April 2nd will be given 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 dividend yield of 4.33%. The ex-dividend date of this dividend is Wednesday, April 2nd.

CVB Financial has raised its dividend by an average of 3.6% annually over the last three years. CVB Financial has a dividend payout ratio of 52.3% meaning 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 Down 2.0 %

CVBF opened at $18.46 on Monday. The stock has a 50-day moving average of $19.85 and a 200 day moving average of $20.37. CVB Financial has a 12 month low of $15.71 and a 12 month high of $24.58. The firm has a market cap of $2.58 billion, a P/E ratio of 12.82 and a beta of 0.46.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share 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, research analysts forecast that CVB Financial will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVBF. Keefe, Bruyette & Woods boosted their price objective 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 reduced their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVB Financial presently 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.