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

CVB Financial Corp. (NASDAQ:CVBF) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders 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 yield of 4.26%.

CVB Financial has raised its dividend by an average of 3.6% annually 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 Price Performance

CVBF traded up $0.07 during midday trading on Wednesday, reaching $18.78. 600,128 shares of the company’s stock traded hands, compared to its average volume of 757,699. The firm has a fifty day moving average of $20.08 and a two-hundred day moving average of $20.29. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.04 and a beta of 0.46. CVB Financial has a 52 week low of $15.71 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that CVB Financial will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

CVBF has been the subject of several research reports. Stephens decreased their target price 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. Keefe, Bruyette & Woods increased their target price on CVB Financial from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, CVB Financial currently has a consensus rating of “Hold” and an average target price of $22.20.

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.