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

CVB Financial Corp. (NASDAQ:CVBF) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Investors of record on Wednesday, April 2nd will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, April 16th. This represents a $0.80 annualized dividend and a dividend yield of 4.26%.

CVB Financial has raised its dividend by an average of 3.6% per year over the last three years. CVB Financial has a payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of CVBF opened at $18.78 on Thursday. The firm has a market capitalization of $2.62 billion, a PE ratio of 13.04 and a beta of 0.46. The stock has a 50 day simple moving average of $20.05 and a 200 day simple moving average of $20.28. CVB Financial has a 52-week low of $15.71 and a 52-week high of $24.58.

CVB Financial (NASDAQ:CVBF) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. CVB Financial had a return on equity of 9.35% and a net margin of 29.32%. Equities research analysts predict that CVB Financial will post 1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVBF has been the topic of several research reports. Keefe, Bruyette & Woods boosted their target price on CVB Financial from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens lowered their price target on CVB Financial from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.20.

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.