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

CVB Financial Corporation (NASDAQ:CVBF) announced a quarterly dividend on Wednesday, June 24th. Investors of record on Thursday, July 9th will be given a dividend of 0.20 per share by the financial services provider on Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, July 9th.

CVB Financial has decreased its dividend payment by an average of 0.0%annually over the last three years. CVB Financial has a dividend payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVB Financial to earn $1.92 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 41.7%.

CVB Financial Stock Up 2.3%

NASDAQ:CVBF opened at $22.04 on Thursday. CVB Financial has a 1-year low of $17.94 and a 1-year high of $22.14. The company has a 50-day moving average of $20.46 and a 200 day moving average of $19.97. The firm has a market cap of $3.89 billion, a PE ratio of 14.50 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.73 and a quick ratio of 0.73.

CVB Financial (NASDAQ:CVBF) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $132.12 million for the quarter, compared to analysts’ expectations of $162.29 million. CVB Financial had a net margin of 32.05% and a return on equity of 9.16%. During the same period in the prior year, the business earned $0.36 EPS. As a group, research analysts anticipate that CVB Financial will post 1.56 EPS for the current fiscal year.

Insider Activity at CVB Financial

In other news, Director George A. Borba, Jr. acquired 50,242 shares of CVB Financial stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $19.90 per share, for a total transaction of $999,815.80. Following the purchase, the director directly owned 796,024 shares in the company, valued at $15,840,877.60. The trade was a 6.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVB Financial

Large investors have recently made changes to their positions in the business. Clifford Capital Partners LLC boosted its position in shares of CVB Financial by 3,800.6% in the 3rd quarter. Clifford Capital Partners LLC now owns 665,285 shares of the financial services provider’s stock worth $12,581,000 after purchasing an additional 648,229 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in CVB Financial by 139.4% in the third quarter. Tudor Investment Corp ET AL now owns 101,128 shares of the financial services provider’s stock valued at $1,912,000 after buying an additional 58,882 shares during the last quarter. Victory Capital Management Inc. raised its stake in CVB Financial by 3.7% in the third quarter. Victory Capital Management Inc. now owns 1,956,467 shares of the financial services provider’s stock valued at $36,997,000 after buying an additional 69,774 shares during the last quarter. UBS Group AG boosted its holdings in CVB Financial by 25.2% in the fourth quarter. UBS Group AG now owns 161,339 shares of the financial services provider’s stock worth $3,001,000 after acquiring an additional 32,499 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of CVB Financial by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 7,110,009 shares of the financial services provider’s stock worth $134,452,000 after acquiring an additional 147,061 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

About CVB Financial

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.