CVB Financial Corporation (CVBF) to Issue Quarterly Dividend of $0.20 on October 15th

CVB Financial Corporation (NASDAQ:CVBF) declared a quarterly dividend on Wednesday, September 16th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.20 per share by the financial services provider on Thursday, October 15th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 30th.

CVB Financial has decreased its dividend by an average of 0.0%per year over the last three years. CVB Financial has a payout ratio of 51.9% meaning its dividend is sufficiently covered by earnings. Analysts expect CVB Financial to earn $2.01 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 39.8%.

CVB Financial Trading Up 0.4%

CVBF stock opened at $22.81 on Friday. CVB Financial has a twelve month low of $17.94 and a twelve month high of $23.41. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.73 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $22.61 and its two-hundred day simple moving average is $21.15.

CVB Financial (NASDAQ:CVBF) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The firm had revenue of $179.43 million for the quarter, compared to analysts’ expectations of $184.62 million. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, analysts anticipate that CVB Financial will post 1.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVBF. Raymond James Financial upgraded CVB Financial from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Wednesday, July 1st. Stephens raised shares of CVB Financial from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a research note on Thursday, August 6th. DA Davidson boosted their price objective on shares of CVB Financial from $22.50 to $25.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Piper Sandler lifted their price target on shares of CVB Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Finally, Wall Street Zen raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.25.

About CVB Financial

CVB Financial Corp. is the bank holding company for Citizens Business Bank, a commercial bank headquartered in Ontario, California. Founded in 1974, the company provides banking and financial services primarily to businesses, professionals, individuals and public-sector organizations throughout California.

Citizens Business Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration loans, agricultural lending and consumer credit products.