CVB Financial (NASDAQ: CVBF) authorized a new 2026 share repurchase program for up to 15,000,000 common shares. The plan may use Rule 10b5-1 arrangements, open market purchases, and private transactions.
This program fully replaces the 2024 authorization, which had 5,678,223 shares remaining. CVBF, holding company for Citizens Business Bank, reports over $20 billion in assets and more than 75 banking centers in California.
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Positive
Authorization to repurchase up to 15,000,000 shares of common stock
New 2026 program replaces prior 2024 plan with 5,678,223 shares remaining
Company reports more than $20 billion in total assets after mergers
Negative
None.
News Market Reaction – CVBF
+1.92%
+1.92%Session close to close
In the Jun 16 session, CVBF gained 1.92%, reflecting a mild positive market reaction.
This announcement authorizes CVBF to repurchase up to 15,000,000 shares, replacing a 2024 program wi...
Analysis
This announcement authorizes CVBF to repurchase up to 15,000,000 shares, replacing a 2024 program with 5,678,223 shares remaining. It comes as the company operates with over $20 billion in assets and a share price near its 52-week high. Historically, a similar 10 million-share authorization in 2024 coincided with a positive move, while recent filings highlight ongoing governance stability and insider purchases.
Key Figures
2026 repurchase authorization:15,000,000 sharesRemaining 2024 authorization:5,678,223 sharesTotal assets:$20 billion+2 more
5 metrics
2026 repurchase authorization15,000,000 sharesMaximum common shares under 2026 Repurchase Program
Remaining 2024 authorization5,678,223 sharesShares still available under 2024 repurchase program being replaced
Total assets$20 billionTotal assets as of closing of Heritage mergers
Banking centersMore than 75Citizens Business Bank locations serving California
Trust offices3 locationsTrust office locations in California
Board approved up to 10 million-share repurchase program, replacing 2022 plan.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Prior buyback authorization in 2024 also saw a positive price reaction, suggesting investors have historically viewed CVBF repurchase programs favorably.
Recent Company History
Over the past two years, CVBF has used share repurchase authorizations as part of its capital strategy. A 10 million-share program announced on Nov 21, 2024 replaced an earlier plan and coincided with a +2.75% one-day move. Today’s 15 million-share authorization similarly refreshes the program, continuing a pattern of board-supported capital returns alongside a growing asset base above $20 billion.
Key Terms
rule 10b5-1 plans, share repurchase program
2 terms
rule 10b5-1 plansfinancial
"including by means of one or more Rule 10b5-1 plans or other appropriate buy-back"
A Rule 10b5-1 plan is a prearranged schedule that lets company insiders buy or sell stock at set times or prices, set up when they do not possess confidential information. It acts like an automatic thermostat for trades, reducing the risk that otherwise-timed transactions could be accused of insider trading. Investors care because such plans increase transparency about insider activity and signal when insider trades are routine rather than reactive to private news.
share repurchase programfinancial
"The approval of this share repurchase program reflects our robust capital position"
A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.
Ontario, CA, June 15, 2026 (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ: CVBF) announced that at a meeting on June 15, 2026, the Board of Directors of CVB Financial Corp. (the “Company”), the holding company for Citizens Business Bank, National Association, authorized the Company to repurchase up to 15,000,000 shares of the Company’s common stock (the “2026 Repurchase Program”), including by means of one or more Rule 10b5-1 plans or other appropriate buy-back arrangements, including open market purchases and private transactions.
“The approval of this share repurchase program reflects our robust capital position, consistent track record of producing quality earnings, and history of delivering long term value to our shareholders,” said David A. Brager, Chief Executive Officer.
This 2026 Repurchase Program replaces in its entirety the Company’s previous 2024 share repurchase program under which 5,678,223 shares remained available for repurchase.
Corporate Overview CVB Financial Corp. (“CVBF”) is the holding company for Citizens Business Bank, National Association. CVBF is one of the ten largest bank holding companies headquartered in California with more than $20 billion in total assets as of the closing of the mergers with Heritage Commerce Corp and its principal banking subsidiary, Heritage Bank of Commerce. Citizens Business Bank, National Association, is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services, with more than 75 banking centers and three trust office locations serving California.
Shares of CVB Financial Corp. common stock are listed on the NASDAQ under the ticker symbol “CVBF”. For investor information on CVB Financial Corp., visit our Citizens Business Bank website at www.cbbank.com and click on the “Investors” tab.
Contact: David A. Brager Chief Executive Officer (909) 980-4030
FAQ
What did CVB Financial (NASDAQ: CVBF) announce on June 15, 2026 about its share repurchase plan?
CVB Financial authorized a new 2026 repurchase program for up to 15,000,000 common shares. According to CVB Financial, the program may be executed through Rule 10b5-1 plans, open market purchases, and private transactions, replacing the prior 2024 buyback authorization.
How many CVBF shares can be bought under the 2026 repurchase program and what happened to the 2024 plan?
The 2026 program allows repurchase of up to 15,000,000 CVBF shares. According to CVB Financial, this authorization replaces the 2024 repurchase program in full, under which 5,678,223 shares of common stock had remained available for potential buybacks.
What does the 15 million share buyback authorization mean for CVBF shareholders?
The authorization permits CVB Financial to buy back up to 15,000,000 shares over time. According to CVB Financial, approving this repurchase program reflects its view of a robust capital position and a history of generating quality earnings and long-term shareholder value.
How does CVB Financial plan to execute the 2026 CVBF share repurchase program?
CVB Financial may use one or more Rule 10b5-1 plans and other buy-back arrangements. According to CVB Financial, these can include open market purchases and privately negotiated transactions as part of the 15,000,000 share 2026 repurchase authorization.
What is CVB Financial’s asset size and footprint after the Heritage Commerce mergers?
CVB Financial reports more than $20 billion in total assets following the Heritage Commerce mergers. According to CVB Financial, Citizens Business Bank now operates over 75 banking centers and three trust office locations serving customers across California.
What business does Citizens Business Bank provide as CVBF’s principal subsidiary?
Citizens Business Bank offers a wide array of banking, lending, and investing services in California. According to CVB Financial, the bank is frequently recognized as a top-performing institution, operating more than 75 banking centers and three trust offices statewide.
