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

CVB Financial Corp. (NASDAQ:CVBF) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.20 per share by the financial services provider on Wednesday, January 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, December 31st.

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 56.7% meaning its dividend is sufficiently covered by earnings. Analysts expect CVB Financial to earn $1.39 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 57.6%.

CVB Financial Stock Down 1.0 %

Shares of CVBF opened at $22.80 on Wednesday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 15.94 and a beta of 0.49. CVB Financial has a 52 week low of $15.71 and a 52 week high of $24.58. The stock’s 50-day moving average price is $21.49 and its 200-day moving average price is $18.93.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $126.45 million for the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, equities analysts anticipate that CVB Financial will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reduced their price target on CVB Financial from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.80.

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.