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

Key Points

• CVB Financial Corporation has declared a quarterly dividend of $0.20 per share, with shareholders of record on October 1st set to receive the payment on October 16th, resulting in an annual yield of 4.1%.
• The company's current payout ratio stands at 51.9%, indicating strong coverage of its dividend by earnings, with expected earnings of $1.48 per share next year.
• CVB Financial reported a quarterly EPS of $0.36, slightly above analysts' expectations, with total revenue recorded at $126.35 million.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) announced a quarterly dividend on Wednesday, September 17th, RTT News reports. Investors of record on Wednesday, October 1st will be paid a dividend of 0.20 per share by the financial services provider on Thursday, October 16th. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, October 1st.

CVB Financial has a payout ratio of 51.9% meaning 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 Stock Performance

Shares of CVBF stock traded down $0.26 during midday trading on Friday, hitting $19.95. 1,645,432 shares of the company were exchanged, compared to its average volume of 654,239. The firm has a market capitalization of $2.75 billion, a P/E ratio of 13.76 and a beta of 0.71. The firm's 50 day moving average price is $19.85 and its two-hundred day moving average price is $19.18. CVB Financial has a 52 week low of $16.01 and a 52 week high of $24.58.

CVB Financial (NASDAQ:CVBF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $126.35 million during the quarter, compared to the consensus estimate of $127.95 million. CVB Financial had a net margin of 30.99% and a return on equity of 9.21%. During the same quarter in the previous year, the firm posted $0.36 EPS. Analysts expect that CVB Financial will post 1.41 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on CVBF shares. Piper Sandler lifted their target price on shares of CVB Financial from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods cut their price objective on shares of CVB Financial from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.25.

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.