Cvb Financial Stock Price, News & Analysis

CVB Financial Corp. (NASDAQ: CVBF) has been named the "Best Bank in America" by Forbes for the fourth time in eight years. The recognition highlights the bank's record performance, achieving the highest annual earnings in its history in 2022. President and CEO David Brager attributes this success to the dedication of employees and strong customer relationships. CVBF also maintained its Five-Star Superior rating from BauerFinancial and a BBB+ rating from Fitch Ratings. The Forbes ranking is based on metrics related to credit quality, growth, and profitability among the largest U.S. banks.

CVB Financial Corp. (NASDAQ: CVBF) reported a net income of $66.2 million, or $0.47 per share, for Q4 2022, marking an increase from $64.6 million in Q3 2022 and $47.7 million in Q4 2021. The full-year net earnings rose to $235.4 million, up 11% year-over-year. The return on average tangible common equity was a robust 23.65%, while the net interest margin expanded to 3.69%. Factors affecting these results included a provision for credit losses of $2.5 million in Q4, reflecting economic uncertainties. The bank successfully increased its noninterest income and maintained a strong efficiency ratio of 36.31%.

CVB Financial Corp. (NASDAQ: CVBF) has declared a cash dividend of $0.20 per share for Q4 2022, scheduled for payment on January 13, 2023, to shareholders of record by December 29, 2022. This marks the 133rd consecutive dividend paid, highlighting the company's strong capital and liquidity. With over $16 billion in total assets, CVBF operates Citizens Business Bank, recognized as one of the leading banks in California.

CVB Financial Corp. (NASDAQ: CVBF) announces the passing of esteemed board member Rodrigo Guerra, Jr. on November 4, 2022. Mr. Guerra was a pivotal presence on the boards since 2017, contributing significantly as Chair of the Nominating and Corporate Governance Committee and as a member of several other key committees. He was also a partner at Skadden, Arps, Slate, Meagher & Flom, LLP. The company expresses deep condolences, highlighting Mr. Guerra's invaluable insights and contributions that enhanced board effectiveness. CVBF remains a top California bank with over $16 billion in assets.

CVB Financial Corp. (NASDAQ: CVBF) reported a strong performance in Q3 2022, with net earnings reaching $64.6 million, or $0.46 per share, marking a 9% increase from Q2 2022. The net interest margin expanded to 3.46%, driven by robust loan growth of 6% and effective expense management. The annualized return on average tangible common equity was an impressive 21.34%. Notably, the company raised its quarterly dividend by 5%. However, provisions for credit losses saw a slight increase to $2.0 million due to anticipated economic challenges.

CVB Financial Corp. (NASDAQ: CVBF) has announced a cash dividend of $0.20 per share for Q3 2022, marking a $0.01 increase from the previous quarter. This dividend is set to be distributed around October 20, 2022, to shareholders of record as of October 5, 2022, representing the 132nd consecutive quarterly cash dividend. The company highlights its robust capital and liquidity, along with a history of 181 consecutive profitable quarters, affirming its commitment to shareholder returns through this dividend increase and its stock repurchase plan.

CVB Financial Corp. (NASDAQ: CVBF) reported net earnings of $59.1 million, or $0.42 per share, for Q2 2022, up from $45.6 million in Q1 2022 and $51.2 million in Q2 2021. The company achieved an annualized return on average tangible common equity of 18.67% and a net interest margin of 3.16%, reflecting strong loan growth and effective expense management. A 6% dividend increase was also announced. However, a $3.6 million provision for credit losses was recorded.

CVB Financial Corp. (NASDAQ: CVBF) declared a cash dividend of $0.19 per share for Q2 2022, marking a $0.01 increase from the previous quarter. This dividend reflects the company's strong capital and liquidity position, continuing its streak of 131 consecutive quarterly cash dividends. The increase follows the successful integration of Suncrest Bank. The dividend is set to be paid on July 15, 2022, to shareholders on record as of June 30, 2022. CVBF has approximately $17 billion in total assets and maintains over 60 banking centers across California.

CVB Financial Corp. (CVBF) has appointed Kimberly Sheehy as a new Board Member, expanding the Board's capacity from eight to nine members for both CVBF and Citizens Business Bank (CBB). Sheehy will chair the Audit Committee and serve on several other key committees. With over 30 years of experience in finance and technology across multiple sectors, her expertise aims to enhance the Board's strategic oversight. The company emphasizes its commitment to diversity in leadership as part of its growth strategy.