CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) declared a quarterly dividend on Wednesday, June 25th, RTT News reports. Shareholders of record on Thursday, July 10th will be given a dividend of 0.20 per share by the financial services provider on Thursday, July 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%.
CVB Financial has a payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance
Shares of CVBF traded up $0.06 on Wednesday, reaching $19.22. The stock had a trading volume of 870,527 shares, compared to its average volume of 821,409. CVB Financial has a 12-month low of $16.01 and a 12-month high of $24.58. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 13.26 and a beta of 0.66. The company has a 50-day simple moving average of $18.85 and a 200-day simple moving average of $19.60.
CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $126.67 million during the quarter, compared to analyst estimates of $124.45 million. CVB Financial had a return on equity of 9.32% and a net margin of 30.24%. During the same quarter last year, the firm posted $0.35 earnings per share. On average, analysts expect that CVB Financial will post 1.41 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, Piper Sandler decreased their target price on shares of CVB Financial from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Monday, April 28th.
Check Out Our Latest Report on CVBF
Hedge Funds Weigh In On CVB Financial
Several large investors have recently modified their holdings of CVBF. Jane Street Group LLC bought a new stake in CVB Financial during the 1st quarter valued at about $4,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of CVB Financial by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,180 shares of the financial services provider's stock valued at $8,458,000 after buying an additional 38,250 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of CVB Financial by 848.1% during the first quarter. Jones Financial Companies Lllp now owns 15,122 shares of the financial services provider's stock valued at $300,000 after acquiring an additional 13,527 shares in the last quarter. AQR Capital Management LLC raised its holdings in CVB Financial by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 48,496 shares of the financial services provider's stock worth $895,000 after acquiring an additional 12,992 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in CVB Financial by 28.7% in the 1st quarter. Royal Bank of Canada now owns 37,839 shares of the financial services provider's stock worth $698,000 after acquiring an additional 8,432 shares during the last quarter. Hedge funds and other institutional investors own 74.18% of the company's stock.
About CVB Financial
(
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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