US Stock MarketDetailed Quotes

CVBF CVB Financial

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  • 19.410
  • +0.400+2.10%
Close Oct 15 16:00 ET
  • 19.440
  • +0.030+0.15%
Post 20:02 ET
2.71BMarket Cap13.11P/E (TTM)
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    CVB Financial's share price and EPS decline has unsettled shareholders. The company's revenue and earnings trends are seen as more significant measures. The past year's performance concludes a poor streak, with shareholders facing a total loss of 1.9% per year over five years.
    CVB Inc's CFO, Jared Erickson, is optimistic about the company's future given a robust U.S. economy and appreciates CIT Northbridge's team for securing financing. Neal Legan, team leader at CIT Northbridge, highlights close collaboration with CVB.
    ONTARIO, Calif., Sept.  23, 2021  (GLOBE NEWSWIRE) -- CVB Financial Corp. (NASDAQ: CVBF) (the "Company") announced today that effective immediately it has terminated its 10b5-1 stock repurchase program in order to comply with Regulation M under the Securities Exchange Act of 1934, as amended. The termination is related to the announced acquisition by the Company and its principal subsidiary, Citizens Business Bank, of Suncrest Bank. Suncrest Bank will be engaged in a proxy solicitation associated with the prospective issuance of the Company's common stock in connection with the Agreement and Plan of Reorganization and Merger among the Company, its principal subsidiary, Citizens Business Bank and Suncrest Bank, dated July 27, 2021, which in turn caused Regulation M to become applicable to any repurchases by the Company of its common stock. The Company's Board of Directors previously authorized the Company to repurchase up to 10,000,000 shares of the Company's common stock. During the third quarter of 2021, the Company repurchased 390,336 shares of common stock, at an average price of $18.97, and as of September 23, 2021, 4,194,809 shares remain available for repurchase.
    $CVB Financial (CVBF.US)$
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