CVB Financial Posts 3Q EPS of 44 Cents
CVBF sits 23% above its 52-week low of $18.01.
Summary
CVB Financial reported third-quarter EPS of 44 cents, with net income of $78.1 million and revenue of $195.6 million. Net interest income came in at $179.1 million. The prior quarter set a high bar: Q2 net income fell 4.6% to $48.3 million on Heritage acquisition costs even as net interest income jumped 45.5% and the margin widened. Whether 44 cents clears that bar depends on the year-ago comparison and consensus, neither of which is in the release. The read on the Heritage integration and balance-sheet growth is still open, with margin and credit figures not yet disclosed. Full release details and any guidance will fill in the rest.
At the time of this announcement, CVBF was trading at $22.17 on NASDAQ in the Finance sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $18.01 to $23.41. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.