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

CVB Financial Corp. (NASDAQ:CVBFGet Free Report) declared a quarterly dividend on Wednesday, June 26th, Zacks reports. Shareholders of record on Thursday, July 11th will be given a dividend of 0.20 per share by the financial services provider on Thursday, July 25th. This represents a $0.80 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Thursday, July 11th.

CVB Financial has decreased its dividend payment by an average of 12.6% per year over the last three years. CVB Financial has a dividend payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CVB Financial to earn $1.50 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 53.3%.

CVB Financial Stock Up 2.7 %

Shares of CVB Financial stock opened at $17.17 on Wednesday. The firm has a market cap of $2.40 billion, a PE ratio of 11.30 and a beta of 0.47. CVB Financial has a twelve month low of $13.47 and a twelve month high of $21.77. The business has a 50-day moving average price of $16.72 and a 200 day moving average price of $17.33.

CVB Financial (NASDAQ:CVBFGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. CVB Financial had a return on equity of 10.84% and a net margin of 30.93%. The business had revenue of $126.57 million during the quarter, compared to analysts’ expectations of $127.46 million. During the same period in the previous year, the business earned $0.42 earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. On average, sell-side analysts expect that CVB Financial will post 1.41 EPS for the current year.

Insider Transactions at CVB Financial

In related news, Director George A. Borba, Jr. acquired 4,610 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $16.00 per share, with a total value of $73,760.00. Following the completion of the transaction, the director now owns 665,121 shares of the company’s stock, valued at $10,641,936. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director George A. Borba, Jr. acquired 4,610 shares of the company’s stock in a transaction on Monday, June 17th. The shares were bought at an average cost of $16.00 per share, with a total value of $73,760.00. Following the transaction, the director now owns 665,121 shares in the company, valued at approximately $10,641,936. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George A. Borba, Jr. bought 34,200 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $15.99 per share, with a total value of $546,858.00. Following the purchase, the director now owns 660,511 shares of the company’s stock, valued at approximately $10,561,570.89. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 39,910 shares of company stock valued at $638,669. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CVBF shares. Keefe, Bruyette & Woods dropped their target price on shares of CVB Financial from $20.00 to $19.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Wedbush reiterated a “neutral” rating and set a $19.00 price objective on shares of CVB Financial in a research note on Thursday, April 25th. Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of CVB Financial in a research report on Thursday, April 25th. Hovde Group cut CVB Financial from an “outperform” rating to a “market perform” rating and set a $18.00 price target for the company. in a research report on Monday, April 22nd. Finally, Janney Montgomery Scott lowered shares of CVB Financial from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.00.

Read Our Latest Stock Analysis on CVBF

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.

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Dividend History for CVB Financial (NASDAQ:CVBF)

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