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

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, January 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, December 31st.

CVB Financial has decreased its dividend by an average of 12.6% per year over the last three years. CVB Financial has a payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVB Financial to earn $1.39 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 57.6%.

CVB Financial Stock Down 1.0 %

Shares of CVBF stock traded down $0.23 on Tuesday, reaching $22.80. The stock had a trading volume of 1,093,508 shares, compared to its average volume of 825,081. CVB Financial has a 12 month low of $15.71 and a 12 month high of $24.58. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 15.94 and a beta of 0.49. The firm's 50-day moving average is $21.49 and its two-hundred day moving average is $18.93.

CVB Financial (NASDAQ:CVBF - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $126.45 million for the quarter, compared to analyst estimates of $126.75 million. CVB Financial had a return on equity of 9.80% and a net margin of 28.29%. The business's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, sell-side analysts forecast that CVB Financial will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CVBF shares. Wedbush reissued a "neutral" rating and set a $20.00 price target on shares of CVB Financial in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective on CVB Financial from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Piper Sandler cut their target price on CVB Financial from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.80.

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.