The return on average tangible common equity is a non-GAAP disclosure. The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's performance. The following is a reconciliation of net income, adjusted for tax-effected amortization of intangibles, to net income computed in accordance with GAAP; a reconciliation of average tangible common equity to the Company's average stockholders' equity computed in accordance with GAAP; as well as a calculation of retu ...

Core Viewpoint - CVB Financial reported a decline in revenue and earnings per share (EPS) for the quarter ended June 2024, indicating potential challenges in financial performance compared to the previous year [1][6]. Financial Performance - Revenue for the quarter was $125.27 million, down 5.2% year-over-year [1]. - EPS was $0.36, compared to $0.40 a year ago [1]. - The reported revenue was a surprise of -1.98% compared to the Zacks Consensus Estimate of $127.8 million [6]. - The EPS surprise was +2.86% against the consensus estimate of $0.35 [6]. Key Financial Metrics - Net Interest Margin stood at 3.1%, matching the four-analyst average estimate [3]. - Efficiency ratio was 45.1%, slightly above the four-analyst average estimate of 44.6% [3]. - Total interest-earning assets were $14.67 billion, slightly below the average estimate of $14.74 billion [3]. - Net Charge-off as a percentage of average loans was 0%, better than the estimated 0.1% [3]. - Total NonPerforming Loans amounted to $24.96 million, exceeding the average estimate of $18.13 million [3]. - Total NonPerforming Assets were $25.60 million, higher than the average estimate of $18.46 million [3]. - Net Interest Income was $110.85 million, below the estimated $113.57 million [3]. - Total Noninterest Income was $14.42 million, slightly above the estimated $13.92 million [3]. - Service charges on deposit accounts were $5.12 million, slightly above the estimated $5.05 million [3]. - Trust and investment services generated $3.43 million, exceeding the estimated $3.15 million [3]. Stock Performance - CVB Financial shares returned +22.1% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [5]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [5].

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.36 on $130.57 million in revenues for the coming quarter and $1.41 on $517.87 million in revenues for the current fiscal year. CVB Financial shares have l ...

Net Earnings of $50 million, or $0.36 per share Return on Average Assets of 1.24% Return on Average Tangible Common Equity of 15.51% Net Interest Margin of 3.05% CVB Financial Corp. reported net income of $50.0 million for the quarter ended June 30, 2024, compared with $48.6 million for the first quarter of 2024 and $55.8 million for the second quarter of 2023. Diluted earnings per share were $0.36 for the second quarter, compared to $0.35 for the prior quarter and $0.40 for the same period last year. Net i ...

Wall Street expects a year-over-year decline in earnings on lower revenues when CVB Financial (CVBF) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on July 24, 2024, might help the stock move higher if these key numbers are better than expect ...

ONTARIO, CA, June 26, 2024 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ: CVBF) (the "Company") announced a twenty cent ($0.20) per share cash dividend with respect to the second quarter of 2024. This dividend was approved at the Company's regularly scheduled Board of Directors meeting held on June 26, 2024. The quarterly dividend will be payable on or about July 25, 2024 to shareholders of record as of July 11, 2024. Corporate Overview Shares of CVB Financial Corp. common stock are listed on the NASDAQ u ...

Corporate Overview - CVB Financial Corp. is the holding company for Citizens Business Bank, one of the 10 largest bank holding companies headquartered in California, with approximately $16 billion in total assets [5] - Citizens Business Bank is recognized as one of the top performing banks in the nation, offering a wide array of banking, lending, and investing services through more than 60 banking centers and three trust office locations in California [5] Dividend Announcement - The Company announced a cash dividend of $0.20 per share for the second quarter of 2024, approved during the Board of Directors meeting on June 26, 2024 [3] - The quarterly dividend will be payable on or about July 25, 2024, to shareholders of record as of July 11, 2024 [3] - This marks the 139th consecutive quarterly cash dividend paid to shareholders [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 000-10140 CVB FINANCIAL CORP. (Exact name of registrant as specified in its charter) California 95-3629339 (State or other ...

CVB Financial Corp. (NASDAQ:CVBF) Q1 2024 Earnings Conference Call April 25, 2024 10:30 AM ET Company Participants Christina Carrabino - Investor Relations Dave Brager - President & Chief Executive Officer Allen Nicholson - Executive Vice President & Chief Financial Officer Conference Call Participants Kelly Motta - KBW David Feaster - Raymond James Gary Tenner - D.A. Davidson Matthew Clark - Piper Sandler Operator Good morning ladies and gentlemen and welcome to the First Quarter 2024 CVB Financial Corpora ...

➢ New markets 20 CVBF KRX ACL Nine Quarter Trend 3 Forward Looking Statements cbbank.com | --- | --- | |----------------------------------------------------------------------|---------------| | | | | | | | ▪ Total Assets: $16.5 Billion | | | ▪ Gross Loans: $ 8.8 Billion ▪ Total Deposits (Including Repos): | $12.2 Billion | | ▪ Total Equity: $ 2.1 Billion | | ➢ 188 Consecutive Quarters of Profitability ➢ Forbes, Best Banks in America (2016 – 2024) ➢ Ranked in S&P Global Market Intelligence's Top 50 2024 Publ ...