CVB Financial Corp. (NASDAQ:CVBF) announced a quarterly dividend on Wednesday, September 18th, Zacks reports. Shareholders of record on Wednesday, October 2nd will be given a dividend of 0.18 per share by the financial services provider on Thursday, October 17th. This represents a $0.72 annualized dividend and a yield of 3.54%. The ex-dividend date is Tuesday, October 1st.
CVB Financial has raised its dividend payment by an average of 6.8% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. CVB Financial has a dividend payout ratio of 55.4% meaning its dividend is sufficiently covered by earnings. 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 $0.72 annual dividend with an expected future payout ratio of 48.6%.
NASDAQ CVBF traded up $0.22 during trading on Friday, hitting $20.36. 493,497 shares of the company’s stock traded hands, compared to its average volume of 1,067,969. The stock has a fifty day moving average of $20.77 and a two-hundred day moving average of $21.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.85 and a quick ratio of 0.85. CVB Financial has a 12-month low of $19.21 and a 12-month high of $23.51. The firm has a market cap of $2.85 billion, a P/E ratio of 16.42 and a beta of 1.07.
CVB Financial (NASDAQ:CVBF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. CVB Financial had a net margin of 37.43% and a return on equity of 10.02%. The business had revenue of $129.26 million during the quarter, compared to analyst estimates of $121.72 million. During the same period in the prior year, the business posted $0.32 earnings per share. As a group, analysts expect that CVB Financial will post 1.49 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of CVB Financial from a “hold” rating to a “sell” rating in a report on Monday, October 7th. ValuEngine upgraded shares of CVB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Friday, July 19th. Finally, BidaskClub upgraded shares of CVB Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.33.
In related news, CEO Christopher D. Myers sold 4,600 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $22.04, for a total value of $101,384.00. Following the completion of the transaction, the chief executive officer now directly owns 229,557 shares of the company’s stock, valued at $5,059,436.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.50% of the stock is owned by corporate insiders.
CVB Financial Company Profile
CVB Financial Corp. operates as a bank holding company for Citizens Business Bank that provides banking and financial products and services. The company offers checking, savings, and money market accounts, as well as time certificates of deposit; and serves as a federal tax depository for business customers.
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