CVB Financial (NASDAQ:CVBF) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$126.5m (down 6.8% from 3Q 2023).
- Net income: US$51.2m (down 11% from 3Q 2023).
- Profit margin: 41% (down from 42% in 3Q 2023). The decrease in margin was driven by lower revenue.
- EPS: US$0.37 (down from US$0.41 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CVB Financial EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.6%.
Looking ahead, revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's share price is broadly unchanged from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of CVB Financial's balance sheet and an in-depth analysis of the company's financial position.
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About NasdaqGS:CVBF
CVB Financial
Operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals.
Flawless balance sheet established dividend payer.
