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

CVB Financial Corp. (NASDAQ:CVBF) announced a quarterly dividend on Monday, September 16th, Zacks reports. Investors 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 4.44%. The ex-dividend date is Monday, September 30th.

CVB Financial has decreased its dividend by an average of 12.6% per year over the last three years. CVB Financial has a dividend payout ratio of 55.2% meaning 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 Down 0.6 %

NASDAQ CVBF traded down $0.10 during trading on Wednesday, reaching $18.01. 24,883 shares of the stock traded hands, compared to its average volume of 827,761. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 11.91 and a beta of 0.45. The stock’s 50-day moving average price is $17.93 and its 200 day moving average price is $17.20. CVB Financial has a fifty-two week low of $14.62 and a fifty-two week high of $21.77.

CVB Financial (NASDAQ:CVBF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. Analysts anticipate that CVB Financial will post 1.4 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $17.14, for a total transaction of $50,751.54. Following the transaction, the director now owns 13,156 shares of the company’s stock, valued at approximately $225,493.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Janney Montgomery Scott lowered CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. Stephens lifted their price target on CVB Financial from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $20.00 price objective (up from $19.00) on shares of CVB Financial in a research note on Friday, July 26th. Finally, Wedbush lifted their price objective on CVB Financial from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.00.

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.