Compared to Estimates, CVB Financial (CVBF) Q2 Earnings: A Look at Key Metrics

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].