Last $14.29 USD
Change Today -0.06 / -0.42%
Volume 162.4K
CVBF On Other Exchanges
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As of 12:24 PM 10/1/14 All times are local (Market data is delayed by at least 15 minutes).

cvb financial corp (CVBF) Snapshot

Open
$14.29
Previous Close
$14.35
Day High
$14.48
Day Low
$14.22
52 Week High
12/27/13 - $17.48
52 Week Low
10/9/13 - $13.28
Market Cap
1.5B
Average Volume 10 Days
484.2K
EPS TTM
$0.99
Shares Outstanding
105.8M
EX-Date
10/6/14
P/E TM
14.5x
Dividend
$0.40
Dividend Yield
2.80%
Current Stock Chart for CVB FINANCIAL CORP (CVBF)

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cvb financial corp (CVBF) Details

CVB Financial Corp. operates as the bank holding company for Citizens Business Bank that provides various banking and trust services for small- and medium-sized businesses, professionals, and individuals. It operates in two segments, Business Financial and Commercial Banking Centers, and Treasury. The company offers various deposit products, including checking, savings, money market, and time certificates of deposit for business and personal accounts, as well as acts as a federal tax depository for business customers. It also provides various lending products comprising commercial products, such as lines of credit and other working capital financing, accounts receivable lending, and letters of credit; agribusiness products that consisting of loans to finance the needs of wholesale dairy farm operations, cattle feeders, livestock raisers, and farmers; lease financing for municipal governments; financing products, such as automobile leasing and financing, lines of credit, credit cards, and home equity loans and lines of credit; and real estate mortgage and construction loans. In addition, the company offers various specialized services, including cash management systems for monitoring cash flow, a credit card program for merchants, courier pick-up and delivery, payroll services, remote deposit capture, electronic funds transfers by way of domestic and international wires and automated clearinghouse, and on-line account access, as well as various investment products. Further, it provides various financial services and trust services consisting of fiduciary services, mutual funds, annuities, 401(k) plans, and individual investment accounts. As of December 31, 2013, the company operated through 38 business financial centers; 6 commercial banking centers; and 3 trust office locations in the Inland Empire, Los Angeles County, Orange County, and the Central Valley areas of California. CVB Financial Corp. was founded in 1974 and is headquartered in Ontario, California.

585 Employees
Last Reported Date: 03/3/14
Founded in 1974

cvb financial corp (CVBF) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $750.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $290.0K
Executive Vice President of Citizens Business...
Total Annual Compensation: $308.7K
Chief Credit Officer of Citizens Business Ban...
Total Annual Compensation: $300.0K
Chief Operations Officer of Citizens Business...
Total Annual Compensation: $280.0K
Compensation as of Fiscal Year 2013.

cvb financial corp (CVBF) Key Developments

CVB Financial Corp. Reports Earnings Results for the Second Quarter of 2014

CVB Financial Corp. reported earnings results for the second quarter of 2014. The company posted net income of USD 25.5 million compared with USD 24.5 million for second quarter of 2013. This represents a year-over-year increase of USD 1.0 million, or 4.16%. Diluted earnings per share were USD 0.24 for second quarter of 2014, compared to USD 0.23 for the same period last year.

CVB Financial Corp. Declares Cash Dividend for the Third Quarter of 2014, Payable on or About October 23, 2014

CVB Financial Corp. announced $0.10 per share cash dividend with respect to the third quarter of 2014. The dividend was approved at the regularly scheduled Board of Directors meeting held on September 24, 2014. The dividend will be payable on or about October 23, 2014 to shareholders of record as of October 8, 2014.

CVB Financial Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge-Offs for the Second Quarter Ended June 30, 2014

CVB Financial Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income was $61,216,000 against $56,593,000 a year ago. Earnings before income taxes were $40,485,000 against $38,242,000 a year ago. Net earnings were $25,484,000 or $0.24 per basic and diluted share against $24,466,000 or $0.23 per basic and diluted share a year ago. Net interest income was $59,056,000 against $54,620,000 a year ago. Return on average assets, annualized was 1.45% against 1.56% a year ago. Return on average equity, annualized was 12.48% against 12.58% a year ago. Second quarter earnings were positively impacted by a $7.6 million recapture of the loan loss provision, partially offset by $638,000 of merger-related expenses. Total investment income was $16.9 million increased $1.3 million, or 8.45%, from $15.6 million for the first quarter of 2014. Net interest income after provision for loan losses was $64.759 million against $58.795 million a year ago. For the six months period, the company reported total interest income was $122,278,000 against $115,406,000 a year ago. Earnings before income taxes were $85,268,000 against $68,778,000 a year ago. Net earnings were $54,145,000 or $0.51 per basic and diluted share against $46,081,000 or $0.44 per basic and diluted share a year ago. Net interest income was $117,937,000 against $111,241,000 a year ago. Return on average assets, annualized was 1.58% against 1.47% a year ago. Return on average equity, annualized was 13.58% against 11.95% a year ago. Tangible book value per share as of June 30, 2014 was $7.21 against $6.62 a year ago. Book value per share as of June 30, 2014 was $7.95 against $7.16 a year ago. Total investment income was $32.429 million against $23.230 million a year ago. Net interest income after provision for loan losses was $129.201 million against $113.384 million a year ago. Net charge-offs for the second quarter were $151,000 compared with net recoveries of $990,000 for the first quarter of 2014.

 

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Industry Analysis

CVBF

Industry Average

Valuation CVBF Industry Range
Price/Earnings 14.6x
Price/Sales 5.4x
Price/Book 1.8x
Price/Cash Flow 14.6x
TEV/Sales 0.6x
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