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

CVB Financial Corp. (NASDAQ:CVBFGet Rating) announced a quarterly dividend on Wednesday, September 21st, Zacks reports. Investors of record on Wednesday, October 5th will be paid a dividend of 0.20 per share by the financial services provider on Thursday, October 20th. This represents a $0.80 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, October 4th. This is an increase from CVB Financial’s previous quarterly dividend of $0.19.

CVB Financial has increased its dividend by an average of 8.7% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. CVB Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CVB Financial to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 40.4%.

CVB Financial Price Performance

Shares of NASDAQ CVBF opened at $26.61 on Friday. The business’s 50 day moving average price is $26.33 and its 200 day moving average price is $24.74. The firm has a market cap of $3.72 billion, a P/E ratio of 18.35 and a beta of 0.37. CVB Financial has a 52 week low of $19.00 and a 52 week high of $28.14.

CVB Financial (NASDAQ:CVBFGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. CVB Financial had a return on equity of 9.85% and a net margin of 40.88%. The company had revenue of $136.61 million during the quarter, compared to the consensus estimate of $131.40 million. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, research analysts expect that CVB Financial will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVBF has been the subject of several research analyst reports. StockNews.com raised CVB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st. Wedbush upped their target price on CVB Financial to $26.00 in a research note on Monday, July 25th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in CVB Financial by 0.7% in the 2nd quarter. LPL Financial LLC now owns 65,429 shares of the financial services provider’s stock valued at $1,623,000 after buying an additional 446 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in CVB Financial by 4.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 10,626 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 490 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in CVB Financial by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 69,643 shares of the financial services provider’s stock worth $1,728,000 after acquiring an additional 676 shares in the last quarter. FMR LLC lifted its stake in CVB Financial by 96.0% during the 2nd quarter. FMR LLC now owns 1,756 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 860 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in CVB Financial by 36.5% during the 1st quarter. Captrust Financial Advisors now owns 6,494 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 1,738 shares in the last quarter. 72.60% of the stock is owned by institutional investors and hedge funds.

CVB Financial Company Profile

(Get Rating)

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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