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

CVB Financial Corp. (NASDAQ:CVBF - Get Free Report) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders of record on Wednesday, April 2nd will be given 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 4.28%. The ex-dividend date is Wednesday, April 2nd.

CVB Financial has raised its dividend payment by an average of 3.6% annually 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 Price Performance

Shares of CVBF stock traded up $0.09 during mid-day trading on Friday, hitting $18.70. The stock had a trading volume of 2,580,318 shares, compared to its average volume of 765,152. CVB Financial has a fifty-two week low of $15.71 and a fifty-two week high of $24.58. The firm has a market cap of $2.61 billion, a PE ratio of 12.99 and a beta of 0.46. The company's 50-day simple moving average is $20.00 and its 200-day simple moving average is $20.29.

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

Wall Street Analysts Forecast Growth

CVBF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of CVB Financial from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Stephens cut their price target on shares of CVB Financial from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.