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Cvb Financial - CVBF STOCK NEWS

Welcome to our dedicated page for Cvb Financial news (Ticker: CVBF), a resource for investors and traders seeking the latest updates and insights on Cvb Financial stock.

CVB Financial Corp (CVBF), parent company of Citizens Business Bank, provides essential banking services across California's key markets. This dedicated news hub offers investors and stakeholders centralized access to official updates and financial developments.

Track all material disclosures including quarterly earnings, regulatory filings, and strategic initiatives through verified press releases. Our curated collection simplifies monitoring of commercial lending trends, risk management practices, and market expansion efforts within California's competitive banking sector.

Discover timely updates on leadership changes, dividend declarations, and operational milestones. Bookmark this page for efficient tracking of CVBF's financial performance and industry positioning, supported by Citizens Business Bank's established reputation in business banking solutions.

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CVB Financial Corp. (NASDAQ: CVBF) reported second quarter 2024 net earnings of $50 million, or $0.36 per share, a slight improvement from $48.6 million in the prior quarter but down from $55.8 million in Q2 2023.

Key metrics include a return on average assets of 1.24%, return on average tangible common equity of 15.51%, and a net interest margin of 3.05%. Despite the earnings growth, net interest income declined to $110.8 million, a decrease of 1.43% Q/Q and 7.27% Y/Y due to a drop in net interest margin.

Highlights for Q2 2024 include:

  • Average deposits grew by $245.3 million compared to Q1 2024.
  • Noninterest-bearing deposits represented 60% of total deposits.
  • Net charge-offs were minimal at $31,000.
  • Noninterest expense decreased by $3.3 million Q/Q.
  • Efficiency ratio improved to 45.1% from 47.2% in Q1 2024.

However, nonperforming assets increased to $25.6 million from $14.5 million in Q1 2024, primarily due to a rise in nonperforming commercial real estate loans.

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CVB Financial Corp. (NASDAQ: CVBF) announced a $0.20 per share cash dividend for Q2 2024, marking its 139th consecutive quarterly cash payment. The dividend, approved during the Board of Directors meeting on June 26, 2024, will be payable on July 25, 2024, to shareholders on record as of July 11, 2024.

CVBF, the holding company for Citizens Business Bank, is one of California's 10 largest bank holding companies, boasting approximately $16 billion in total assets. The bank is renowned for its high performance and offers extensive banking, lending, and investment services through over 60 banking centers and three trust offices in California. Shares are traded on NASDAQ under the ticker 'CVBF'.

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CVB Financial Corp. reported first quarter 2024 net earnings of $48.6 million, or $0.35 per share, with a return on average assets of 1.21% and a return on average tangible common equity of 15.13%. Despite a decline in net interest margin and an increase in cost of funds, the company remains profitable with consecutive quarters of profitability and dividend payments. Total assets increased, while loans decreased slightly. Noninterest income and expense details are provided along with asset quality metrics.
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CVB Financial Corp. (CVBF) declares a $0.20 per share cash dividend for Q1 2024, approved at the Board of Directors meeting. Shareholders to receive the dividend in April 2024.
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CVB Financial Corp. (NASDAQ:CVBF) reported fourth quarter 2023 net earnings of $48.5 million, or $0.35 per share, impacted by a $9.2 million FDIC special assessment expense, resulting in a decrease in EPS. For the full year 2023, net earnings were $221.4 million, or $1.59 per share. The efficiency ratio was 42.0% with a return on average assets of 1.35% and a return on average tangible common equity of 18.48%. The company's net interest margin decreased by 5 basis points compared to the prior quarter, total deposits decreased, and total borrowings increased. Noninterest income increased, led by BOLI restructuring, while noninterest expense rose due to the FDIC special assessment. The company's effective tax rate was 34.97% for the fourth quarter and 29.80% for the full year 2023.
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CVB Financial Corp. (NASDAQ: CVBF) announces a twenty cent ($0.20) per share cash dividend for the fourth quarter of 2023
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CVB Financial Corp. (NASDAQ:CVBF) reported net income of $57.9 million for the third quarter of 2023, with diluted earnings per share of $0.42. The company achieved an annualized return on average tangible common equity of 18.82% and an annualized return on average assets of 1.40%. Net interest income was $123.4 million, representing a 3.21% increase from the previous quarter. Noninterest income was $14.3 million, and noninterest expense was $55.1 million.
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CVB Financial Corp. announces $0.20 per share cash dividend for Q3 2023
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Cvb Financial

Nasdaq:CVBF

CVBF Rankings

CVBF Stock Data

2.46B
130.56M
6.01%
78.05%
2.12%
Banks - Regional
State Commercial Banks
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United States
ONTARIO