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Cvb Financial Corp. (CVBF)
NASDAQ:CVBF
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.34Last Year’s EPS
$0.35Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 15.85%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a balanced view of the company's performance, with strong profitability and deposit growth countered by challenges in loan demand and rising costs. The sentiment is influenced by consistent profitability and strategic financial management, but tempered by declining loan production and increased noninterest expenses.Company Guidance
During the third quarter of 2024, CVB Financial Corporation reported net earnings of $51 million or $0.37 per share, marking the 190th consecutive quarter of profitability. The company declared a $0.20 per share dividend, maintaining a streak of 140 consecutive quarters of dividend payments. Key financial metrics included a return on average tangible common equity of 14.93% and a return on average assets of 1.23%. Total revenue, excluding gains and losses, rose by 2.9% or $3.7 million from the previous quarter, driven by a $2.8 million increase in net interest income. The net interest margin held steady at 3.05%. Total assets decreased by approximately $750 million due to an early redemption of a $1.3 billion bank term funding program borrowing, partially offset by over $400 million in increased deposits and customer repos. Additionally, the company recorded a $9.1 million gain from two sale-leaseback transactions. Despite a $109 million decrease in total loans to $8.6 billion, average earning assets grew by $262 million. Nonperforming assets stood at $22.6 million or 15 basis points of total assets, reflecting a decline in nonperforming loans compared to the previous quarter.Consistent Profitability
Achieved 190 consecutive quarters of profitability and 140 consecutive quarters of cash dividends.
Revenue and Earnings Growth
Net earnings of $51 million or $0.37 per share, with a 2% growth in pretax pre-provision income and a 2.9% increase in total revenue compared to the previous quarter.
Increased Deposits
Deposits and customer repos increased by $408 million from the previous quarter, with total deposits reaching $12.5 billion.
Strong Return Metrics
Return on average tangible common equity of 14.93% and return on average assets of 1.23%.
Sale-Leaseback Gains
Executed sale-leaseback transactions resulting in a gain of $9.1 million.
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CVBF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CVBF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $18.99 | $19.59 | +3.16% |
| Jul 24, 2024 | $19.22 | $19.54 | +1.66% |
| Apr 24, 2024 | $16.70 | $16.14 | -3.35% |
| Jan 24, 2024 | $18.34 | $17.67 | -3.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cvb Financial Corp. (CVBF) report earnings?
Cvb Financial Corp. (CVBF) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Cvb Financial Corp. (CVBF) earnings time?
Cvb Financial Corp. (CVBF) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVBF EPS forecast?
CVBF EPS forecast for the fiscal quarter 2024 (Q4) is $0.34.
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