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

CVB Financial Corp. (NASDAQ:CVBFGet Free Report) declared a quarterly dividend on Wednesday, March 20th, Zacks reports. Stockholders of record on Wednesday, April 3rd will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, April 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Tuesday, April 2nd.

CVB Financial has decreased its dividend by an average of 5.9% annually over the last three years. CVB Financial has a payout ratio of 52.3% meaning its dividend is sufficiently covered by earnings. Analysts expect CVB Financial to earn $1.59 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 50.3%.

CVB Financial Price Performance

CVB Financial stock opened at $17.84 on Monday. The business has a 50 day moving average of $17.37 and a 200-day moving average of $17.69. The company has a market capitalization of $2.49 billion, a P/E ratio of 11.22 and a beta of 0.45. CVB Financial has a 1 year low of $10.66 and a 1 year high of $21.77.

CVB Financial (NASDAQ:CVBFGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $138.52 million for the quarter, compared to analysts’ expectations of $134.88 million. CVB Financial had a net margin of 33.26% and a return on equity of 11.50%. Equities analysts anticipate that CVB Financial will post 1.49 EPS for the current year.

Insider Buying and Selling

In related news, CEO David A. Brager bought 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were purchased at an average cost of $16.75 per share, for a total transaction of $33,500.00. Following the completion of the purchase, the chief executive officer now directly owns 152,814 shares in the company, valued at $2,559,634.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director George A. Borba, Jr. acquired 59,601 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $16.78 per share, for a total transaction of $1,000,104.78. Following the completion of the transaction, the director now owns 626,311 shares of the company’s stock, valued at $10,509,498.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David A. Brager bought 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $16.75 per share, with a total value of $33,500.00. Following the completion of the transaction, the chief executive officer now owns 152,814 shares of the company’s stock, valued at $2,559,634.50. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 63,601 shares of company stock worth $1,067,145. 5.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVB Financial

A number of institutional investors have recently made changes to their positions in CVBF. Pathstone Family Office LLC grew its holdings in shares of CVB Financial by 9.8% in the third quarter. Pathstone Family Office LLC now owns 9,764 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 875 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in CVB Financial by 4.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,626 shares of the financial services provider’s stock worth $247,000 after buying an additional 490 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of CVB Financial by 62.9% during the second quarter. PNC Financial Services Group Inc. now owns 16,930 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 6,539 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its stake in CVB Financial by 5.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 8,448 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 424 shares during the period. Finally, Profund Advisors LLC boosted its holdings in CVB Financial by 44.0% in the first quarter. Profund Advisors LLC now owns 12,000 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 3,668 shares in the last quarter. Institutional investors own 74.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Stephens started coverage on shares of CVB Financial in a research note on Friday, December 8th. They issued an “equal weight” rating and a $21.00 price target for the company. TheStreet raised shares of CVB Financial from a “c+” rating to a “b-” rating in a research report on Thursday, December 14th. Keefe, Bruyette & Woods decreased their price target on shares of CVB Financial from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. StockNews.com upgraded shares of CVB Financial to a “sell” rating in a report on Friday, January 5th. Finally, Wedbush lowered their target price on shares of CVB Financial from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, CVB Financial presently has an average rating of “Hold” and an average price target of $20.00.

Read Our Latest Stock Analysis on CVB Financial

CVB Financial Company Profile

(Get Free Report)

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.

Featured Articles

Dividend History for CVB Financial (NASDAQ:CVBF)

Receive News & Ratings for CVB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVB Financial and related companies with MarketBeat.com's FREE daily email newsletter.