CVB Financial Corp. (NASDAQ:CVBF – Get Rating) declared a quarterly dividend on Wednesday, June 15th, Zacks reports. Stockholders of record on Thursday, June 30th will be given a dividend of 0.19 per share by the financial services provider on Friday, July 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Wednesday, June 29th. This is a boost from CVB Financial’s previous quarterly dividend of $0.18.
CVB Financial has raised its dividend by an average of 8.7% annually over the last three years. CVB Financial has a payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CVB Financial to earn $1.79 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 40.2%.
NASDAQ CVBF opened at $24.00 on Friday. The firm has a market capitalization of $3.39 billion, a P/E ratio of 17.02 and a beta of 0.37. CVB Financial has a 1-year low of $18.72 and a 1-year high of $25.22. The business’s 50-day simple moving average is $23.85 and its 200-day simple moving average is $23.01.
In other CVB Financial news, Director Anna Kan sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $24.20, for a total value of $169,400.00. Following the transaction, the director now directly owns 24,975 shares of the company’s stock, valued at approximately $604,395. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kristina M. Leslie sold 6,400 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $23.58, for a total value of $150,912.00. Following the completion of the transaction, the director now directly owns 21,889 shares in the company, valued at $516,142.62. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of CVB Financial by 7.7% in the 1st quarter. BlackRock Inc. now owns 20,822,280 shares of the financial services provider’s stock valued at $483,284,000 after acquiring an additional 1,487,960 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CVB Financial by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 15,296,047 shares of the financial services provider’s stock valued at $355,021,000 after acquiring an additional 750,265 shares during the last quarter. State Street Corp grew its stake in CVB Financial by 24.3% during the 1st quarter. State Street Corp now owns 7,689,996 shares of the financial services provider’s stock worth $178,485,000 after buying an additional 1,502,666 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in CVB Financial by 29.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,119,949 shares of the financial services provider’s stock worth $88,208,000 after buying an additional 942,421 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in CVB Financial by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,216,929 shares of the financial services provider’s stock worth $74,666,000 after buying an additional 72,475 shares during the last quarter. Institutional investors and hedge funds own 68.99% of the company’s stock.
Separately, StockNews.com lowered CVB Financial from a “hold” rating to a “sell” rating in a research report on Monday, May 23rd.
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.
- Get a free copy of the StockNews.com research report on CVB Financial (CVBF)
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