CVB Financial Corp CVBF

FinancialsBanking ServicesUnited States of America

Last close 22.58 USD on Nov 1, 2026, +24.9% year to date

Quant rating

Quant rating B Rank 215 of 799 in Financials

Growth C 329 of 799
Valuation A 70 of 799
Quality C 500 of 799
Revisions B 293 of 799
Momentum B 294 of 799

Wall Street consensus Buy (2.17)Average target 26.08 USD +15.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.0B
Enterprise value: 4.4B
52-week range: 18.04 – 23.40
3-year range: 15.75 – 24.00
Dividend yield: 3.54%
Beta (5 years): 0.70
Shares outstanding: 175M
Next earnings: Jan 19, 2027

About the company

CVB Financial Corp. is the bank holding company for Citizens Business Bank (the Bank). The Bank offers an array of banking, lending, and investing services with approximately 60 banking centers and three trust office locations serving California. It offers a range of bank deposit instruments, which include checking, savings, money market and time certificates of deposit for both business and personal accounts, municipalities and districts, and specialized deposit products for title and escrows. It provides a full complement of lending products, including commercial, agribusiness, consumer, small business administration, real estate, and construction loans, as well as equipment and vehicle leasing. It also offers a range of specialized services designed for the needs of its commercial customers. In addition, it offers a range of financial services and trust services through its CitizensTrust division, which includes fiduciary services, mutual funds, annuities, 401(k) plans, and others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	593	630	606	515	421	–
Revenue growth	−5.8%	3.9%	17.8%	22.4%	−2.3%	6.6%
EPS (basic, normalized)	1.53	1.44	1.59	1.69	1.57	–
EPS growth	6.2%	−9.4%	−6.0%	7.8%	11.1%	1.6%
Gross margin	–	–	–	–	–	–
Net margin	35.0%	31.6%	36.3%	45.5%	50.3%	39.7%
ROE	–	9.4%	11.4%	8.9%	10.3%	10.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	14.7%
Long-term debt (mil)	39.0
Net debt (mil)	–
Total equity (mil)	3,170
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	593	−5.8%	7.4x	16.93	+4.5%	1.3x	1.52	+4.8%	14.9x
2026	635	+7.0%	6.9x	18.23	+7.7%	1.2x	1.55	+2.0%	14.6x
2027	727	+14.6%	6.0x	19.48	+6.8%	1.2x	2.00	+28.8%	11.3x
2028	767	+5.4%	5.7x	20.95	+7.5%	1.1x	2.15	+7.6%	10.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	635	+0.2%	+0.3%	−2.6%	1.55	+2.4%	+2.5%	+8.3%
2027	727	+0.1%	+0.3%	−2.1%	2.00	+0.4%	+1.0%	+5.5%
2028	767	+1.1%	–	–	2.15	+3.5%	–	–

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	112	111	114	110	110	112	116	123	118	162
Sales mean (mil)	117	113	115	113	114	116	119	123	121	170
Surprise	−3.5%	−1.9%	−1.0%	−2.2%	−3.1%	−3.8%	−3.0%	0.0%	−2.3%	−4.4%
EPS reported	0.35	0.36	0.37	0.37	0.37	0.36	0.38	0.40	0.38	0.29
EPS mean	0.35	0.34	0.35	0.34	0.33	0.35	0.37	0.39	0.38	0.29
Surprise	−0.5%	+4.7%	+7.1%	+8.2%	+11.7%	+2.9%	+2.9%	+2.3%	−0.3%	+0.8%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
CVBF CVB Financial Corp	4.0B	14.7%	35.0%	1.40x	14.6x	11.3x	1.2x	1.2x
USB U.S. Bancorp	92.6B	12.2%	23.2%	1.36x	11.2x	10.1x	1.5x	1.4x
EWBC East West Bancorp, Inc.	17.9B	15.4%	30.9%	1.20x	12.1x	11.1x	1.9x	1.7x
ZION Zions Bancorporation, National Association	9.5B	11.9%	21.1%	1.26x	8.4x	9.4x	1.2x	1.1x
COLB Columbia Banking System Inc	8.5B	11.7%	18.9%	1.15x	10.0x	9.2x	1.1x	1.1x
WAL Western Alliance Bancorporation	8.2B	12.0%	20.4%	1.33x	8.5x	7.1x	1.1x	0.9x
Mean		13.0%	24.9%	1.28x	10.8x	9.7x	1.3x	1.2x
Median		12.1%	22.2%	1.29x	10.6x	9.8x	1.2x	1.1x

Technical analysis

1M+2.7%
3M0.0%
1Y+22.6%
3Y+62.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, CVB Financial Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	593	630	606	515	421	430
Total interest expense	133	183	118	9.2	6.1	14.3
Net interest income	460	447	488	506	415	416
Loan loss provision	−3.5	−3.0	2.0	10.6	−25.5	–
Net interest income after loan loss provision	464	450	486	495	440	416
Non-interest income	55.2	54.5	59.3	50.0	47.4	49.9
Non-interest expense	−237	−234	−230	−217	−190	−216
Net income before taxes	282	271	315	328	298	250
Provision for taxes	72.4	70.5	94.0	92.9	85.1	72.4
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	209	201	221	235	213	177
Extraordinary items	–	–	–	–	–	–
Net income	209	201	221	235	213	177
Basic weighted average shares (mil)	137	138	138	140	135	136
Diluted weighted average shares (mil)	137	139	138	140	135	136
Basic EPS excluding extraordinary items	1.52	1.44	1.59	1.68	1.57	1.30
Basic EPS, normalized	1.53	1.44	1.59	1.69	1.57	1.41

Balance sheet in millions of USD, fiscal years

Balance sheet, CVB Financial Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	108	154	171	158	90.0	122
Other earning assets	5,292	4,999	5,558	5,892	6,810	4,905
Net loans	8,622	8,456	8,818	8,994	7,823	8,255
Property, plant & equipment	70.3	74.7	66.4	69.4	68.4	70.3
Goodwill	766	766	766	766	664	664
Intangibles	5.8	10.0	15.3	21.7	25.4	33.6
Long-term investments	–	–	–	–	–	–
Other long-term assets	–	–	–	–	–	–
Other assets	768	694	626	575	403	369
Total assets	15,631	15,154	16,021	16,477	15,884	14,419
Liabilities
Accounts payable	4.8	5.0	23.3	0	50.3	60.1
Payable/accrued	–	–	–	–	–	–
Accrued expenses	68.9	72.5	46.4	46.5	41.7	42.8
Total deposits	12,072	11,948	11,434	12,836	12,976	11,737
Other bearing liabilities	500	500	2,070	995	2.3	5.0
Short-term borrowings	491	262	272	565	642	439
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	0	0	0	0	0	25.8
Minority interest	–	–	–	–	–	–
Other liabilities	200	179	98.1	84.8	89.0	102
Total liabilities	13,336	12,967	13,943	14,528	13,802	12,411
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1,222	1,297	1,289	1,300	1,210	1,212
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	1,301	1,201	1,113	1,003	876	761
Treasury stock	–	–	–	–	–	–
Other equity	−228	−312	−324	−355	−4.0	35.3
Total equity	2,295	2,186	2,078	1,949	2,082	2,008
Total liabilities & shareholders' equity	15,631	15,154	16,021	16,477	15,884	14,419

Cash flow statement in millions of USD, fiscal years

Cash flow statement, CVB Financial Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	−266	−184	−198	−185	−177	−168
Cash from operations	221	250	296	274	195	185
Investing activities
Capital expenditures	−4.1	−5.1	−4.5	−5.4	−4.7	−4.7
Other investing cash flows	−206	858	541	−1,172	−1,726	−1,264
Cash from investing	−210	853	536	−1,177	−1,730	−1,269
Financing activities
Financing cash flow items	352	−1,065	−621	−407	1,440	3,047
Cash dividends paid	−111	−112	−112	−104	−97.7	−98.5
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−80.7	−2.3	−21.0	−114	−32.8	−92.5
Cash from financing	161	−1,179	−754	−626	1,310	2,856
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	172	−76.6	77.8	−1,529	−226	1,773
Free cash flow	217	245	291	268	191	180

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.