Cvb Financial Stock Price, News & Analysis

CVB Financial Corp. (NASDAQ: CVBF) has terminated its 10b5-1 stock repurchase program to comply with Regulation M due to its acquisition of Suncrest Bank. This acquisition includes a proxy solicitation related to the issuance of the Company’s common stock. The Board previously allowed a buyback of up to 10 million shares, and as of now, 4,194,809 shares remain available. In Q3 2021, CVBF repurchased 390,336 shares at an average price of $18.97.

CVB Financial Corp. (NASDAQ: CVBF) announced a cash dividend of $0.18 per share for Q3 2021, approved on September 22, 2021. This dividend will be payable on approximately October 21, 2021 to shareholders of record as of October 6, 2021. With a history of 177 consecutive quarters of profitability, the company has maintained cash dividends for 128 quarters, highlighting its strong capital and liquidity positions.

CVB Financial Corp. announced its second largest acquisition, merging with Suncrest Bank in a deal valued at $204 million, or $16.18 per Suncrest share. This merger will enhance Citizens Business Bank's presence in Central California and expand into Sacramento, significantly boosting its competitive position. The transaction is expected to add approximately 3.5% to earnings per share by 2023, although initial dilution to tangible book value is anticipated. The merger completion is subject to regulatory approvals and is expected in late 2021 or early 2022.

CVB Financial Corp. (NASDAQ: CVBF) reported net earnings of $51.2 million for Q2 2021, or $0.38 per share, a decline from $63.9 million in Q1 2021. The company's return on average tangible common equity was 15.60%, while return on average assets was 1.35%. Total assets increased 4.71% to $15.54 billion, and the company recaptured $2.0 million of provision for credit losses. However, total loans decreased by 2.67% to $8.07 billion, driven by declines in PPP loans due to forgiveness.

CVB Financial Corp. (NASDAQ: CVBF) declared an 18-cent cash dividend per share for Q2 2021, approved during the Board meeting on June 16, 2021. This dividend is set to be paid on or about July 15, 2021, to shareholders of record as of June 30, 2021. CEO David A. Brager emphasized the company's strong capital and liquidity, noting 176 consecutive quarters of profitability and 127 consecutive quarters of cash dividends paid to shareholders. CVBF operates Citizens Business Bank with over $14 billion in total assets across 57 banking centers in California.

CVB Financial Corp. (NASDAQ: CVBF) reported net earnings of $63.9 million for Q1 2021, translating to $0.47 per share. This marks an increase from $50.1 million in Q4 2020 and $38.0 million in Q1 2020. The company achieved a 19.85% return on average tangible common equity and 1.79% return on average assets. Deposit growth reached $2.97 billion, a 33% year-over-year increase. A notable factor in earnings was the $19.5 million recapture of provision for credit losses following improved economic forecasts.

CVB Financial Corp. (CVBF) has appointed Brian T. Mauntel as President of Citizens Business Bank (CBB), effective April 26, 2021. Mauntel brings over 29 years of banking experience, including 23 years at Fifth Third Bank and recent service as President of Heartland Bank. His leadership aims to enhance CBB's organic growth in deposits, lending, and investments. CEO David A. Brager expressed confidence in Mauntel's ability to lead the bank’s 57 centers and specialized lending groups. CVBF manages over $14 billion in assets and is recognized for its strong performance.

CVB Financial Corp. (NASDAQ: CVBF) declared a cash dividend of $0.18 per share for Q1 2021, approved on March 17, 2021. This dividend will be payable on or about April 14, 2021, to shareholders of record as of March 31, 2021. The company has maintained a robust capital and liquidity position, boasting 175 consecutive quarters of profitability, allowing for 126 straight quarters of cash dividends to shareholders. With over $14 billion in total assets, CVBF ranks among the top 10 bank holding companies in California.

CVB Financial Corp. (CVBF) announces the appointment of Jane Olvera as a new Board Member, expanding the board from nine to ten members. Olvera brings expertise in branding and marketing, which aligns with the Bank's growth strategy. Her ties to the Central Valley are expected to enhance the Bank's regional presence and support for diverse businesses. With over $14 billion in total assets, CVBF is among California's top ten bank holding companies, emphasizing its commitment to performance and community service.