CVB Financial said on March 22, 2023 that its board of directors declared a regular
quarterly dividend of $0.20 per share ($0.80 annualized).
Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of April 4, 2023 to qualify for the dividend.
Shareholders of record as of April 5, 2023
will receive the payment on April 19, 2023.
At the current share price of $17.17 / share,
the stock’s dividend yield is 4.66%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.24%,
the lowest has been 2.28%,
and the highest has been 4.44%.
The standard deviation of yields is 0.50 (n=236).
The current dividend yield is
2.84 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.47.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.11%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 62.87% Upside
As of March 24, 2023,
the average one-year price target for CVB Financial is $27.97.
The forecasts range from a low of $25.25 to a high of $31.50.
The average price target represents an increase of 62.87% from its latest reported closing price of $17.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CVB Financial
is $587MM, an increase of 8.39%.
The projected annual non-GAAP EPS
is $2.03.
What is the Fund Sentiment?
There are 547 funds or institutions reporting positions in CVB Financial.
This is an increase
of
25
owner(s) or 4.79% in the last quarter.
Average portfolio weight of all funds dedicated to CVBF is 0.21%,
a decrease
of 9.56%.
Total shares owned by institutions increased
in the last three months by 1.44% to 121,974K shares.
The put/call ratio of CVBF is 3.10, indicating a
bearish
outlook.
What are Large Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF
holds 9,620K shares
representing 6.90% ownership of the company.
In it’s prior filing, the firm reported owning 9,564K shares, representing
an increase
of 0.59%.
The firm
decreased
its portfolio allocation in CVBF by 6.94% over the last quarter.
Neuberger Berman Group
holds 5,453K shares
representing 3.91% ownership of the company.
In it’s prior filing, the firm reported owning 5,222K shares, representing
an increase
of 4.24%.
The firm
decreased
its portfolio allocation in CVBF by 0.29% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 4,028K shares
representing 2.89% ownership of the company.
In it’s prior filing, the firm reported owning 3,900K shares, representing
an increase
of 3.17%.
The firm
decreased
its portfolio allocation in CVBF by 3.01% over the last quarter.
Parallel Advisors
holds 3,827K shares
representing 2.74% ownership of the company.
In it’s prior filing, the firm reported owning 3,833K shares, representing
a decrease
of 0.17%.
The firm
decreased
its portfolio allocation in CVBF by 99.90% over the last quarter.
NBGNX – Neuberger Berman Genesis Fund Investor Class
holds 3,634K shares
representing 2.60% ownership of the company.
In it’s prior filing, the firm reported owning 3,469K shares, representing
an increase
of 4.54%.
The firm
increased
its portfolio allocation in CVBF by 10.62% over the last quarter.
CVB Financial Background Information
(This description is provided by the company.)
CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with over $13 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services through 57 banking centers and 3 trust office locations serving the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of California.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
