We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CVB Financial (CVBF) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
For the quarter ended March 2024, CVB Financial (CVBF - Free Report) reported revenue of $126.57 million, down 8.9% over the same period last year. EPS came in at $0.35, compared to $0.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $127.87 million, representing a surprise of -1.01%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how CVB Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total interest-earning assets: $14.64 billion versus the three-analyst average estimate of $14.60 billion.
Net Charge-off (% of Average Loans): -0.1% compared to the 0% average estimate based on three analysts.
Efficiency ratio: 47.2% compared to the 45.5% average estimate based on three analysts.
Net Interest Margin [%]: 3.1% versus 3.2% estimated by three analysts on average.
Total NonPerforming Loan: $13.81 million versus the two-analyst average estimate of $23.76 million.
Total NonPerforming Assets: $14.46 million compared to the $23.76 million average estimate based on two analysts.
Net Interest Income: $112.46 million versus $114.69 million estimated by three analysts on average.
Total Noninterest Income: $14.11 million versus the three-analyst average estimate of $12.95 million.
Net Interest Income (FTE): $113 million versus $115.37 million estimated by three analysts on average.
Service charges on deposit accounts: $5.04 million versus the two-analyst average estimate of $4.99 million.
Trust and investment services: $3.22 million versus the two-analyst average estimate of $3.07 million.
Shares of CVB Financial have returned +1.9% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CVB Financial (CVBF) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, CVB Financial (CVBF - Free Report) reported revenue of $126.57 million, down 8.9% over the same period last year. EPS came in at $0.35, compared to $0.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $127.87 million, representing a surprise of -1.01%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how CVB Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total interest-earning assets: $14.64 billion versus the three-analyst average estimate of $14.60 billion.
- Net Charge-off (% of Average Loans): -0.1% compared to the 0% average estimate based on three analysts.
- Efficiency ratio: 47.2% compared to the 45.5% average estimate based on three analysts.
- Net Interest Margin [%]: 3.1% versus 3.2% estimated by three analysts on average.
- Total NonPerforming Loan: $13.81 million versus the two-analyst average estimate of $23.76 million.
- Total NonPerforming Assets: $14.46 million compared to the $23.76 million average estimate based on two analysts.
- Net Interest Income: $112.46 million versus $114.69 million estimated by three analysts on average.
- Total Noninterest Income: $14.11 million versus the three-analyst average estimate of $12.95 million.
- Net Interest Income (FTE): $113 million versus $115.37 million estimated by three analysts on average.
- Service charges on deposit accounts: $5.04 million versus the two-analyst average estimate of $4.99 million.
- Trust and investment services: $3.22 million versus the two-analyst average estimate of $3.07 million.
View all Key Company Metrics for CVB Financial here>>>Shares of CVB Financial have returned +1.9% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.