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

CVB Financial Corporation (NASDAQ:CVBF) declared a quarterly dividend on Friday, December 12th. Stockholders of record on Monday, December 29th will be paid a dividend of 0.20 per share by the financial services provider on Tuesday, January 13th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, December 29th.

CVB Financial has raised its dividend by an average of 0.0%annually over the last three years. CVB Financial has a dividend payout ratio of 51.9% meaning its dividend is sufficiently covered by earnings. Equities research 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 0.2%

NASDAQ:CVBF opened at $19.58 on Friday. The firm has a 50-day moving average price of $19.26 and a 200 day moving average price of $19.49. The firm has a market capitalization of $2.68 billion, a PE ratio of 13.41 and a beta of 0.68. CVB Financial has a 12-month low of $16.01 and a 12-month high of $22.22.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. CVB Financial had a return on equity of 9.18% and a net margin of 31.95%.The business had revenue of $128.58 million for the quarter, compared to analyst estimates of $131.10 million. On average, research analysts expect that CVB Financial will post 1.41 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVB Financial in a report on Monday. Wall Street Zen lowered CVB Financial from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Finally, DA Davidson raised their target price on CVB Financial from $21.00 to $22.50 and gave the company a “neutral” rating in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, CVB Financial currently has an average rating of “Hold” and an average target price of $23.88.

CVB Financial Company Profile

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company’s core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.