# CVB Financial Corp. (CVBF)

> Source: Nexqual · https://nexqual.com/CVBF · data as of 2026-10-23 14:11 UTC · cite as "Nexqual, CVB Financial Corp. (CVBF), nexqual.com/CVBF" · informational, not investment advice.

**Price:** USD 22.76 (-1.26% today) · US market open, as of October 23, 2026 at 14:11 UTC; quotes may be delayed. Prev close 23.05 · day 22.73–23.09 · 52w 18.01–23.41 · market cap $3.99B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $574M, net income $207M (36.0% margin) (SEC filings).
- Valuation: P/E 19.3x (avg 13.2x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $918K; 1 not under a Rule 10b5-1 plan ($918K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 6 Form 4 filings, $3.7M; 4 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y +26.9% vs S&P 500 +14.4%; 5Y +39.2% vs S&P 500 +77.0%.
- Next earnings: 2027-01-20, EPS estimate USD 0.48, revenue estimate $196M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $462M | $556M | $547M | $502M | $515M | $574M |
| Operating income | — | $300K | $314M | $314M | $314M | — |
| Net income | $213M | $235M | $221M | $201M | $209M | $207M |
| EPS (diluted) | $1.56 | $1.67 | $1.59 | $1.44 | $1.52 | — |
| Free cash flow | $191M | $268M | $291M | $245M | $217M | $572M |
| Operating margin | — | 0.1% | 57.4% | 62.6% | 60.9% | — |
| Net margin | 46.0% | 42.4% | 40.5% | 40.0% | 40.6% | 36.0% |
| Revenue growth | -0.9% | +20.3% | -1.5% | -8.3% | +2.7% | — |
| Cash + short-term investments | $1.73B | $203M | $281M | $205M | $376M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 19.3x · P/S 7.0x · P/FCF 7.0x · P/B 1.3x · FCF yield 14.33% · Earnings yield 5.18% · Dividend yield (paid, TTM) 2.74% · Buyback yield (TTM) 1.13%
P/E at fiscal year-ends: Dec 2025 12.2x, Dec 2024 14.8x, Dec 2023 12.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-05 | Harvey David C | EVP Chief Operating Officer | 40,000 | $918K | 29% | No | Too little history (no open-market trades in 2024 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
6 purchases, $3.7M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-31 | Maddox Mike | Director | 10,000 | $220K | 22.03 | Too little history (no open-market trades in 2023–2025) |
| 2026-07-28 | O Brien Raymond V Iii | Director | 20,000 | $455K | 22.77 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-22 | Borba George A Jr | Director | 48,894 | $1000K | 20.45 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-19 | Borba George A Jr | Director | 25,187 | $500K | 19.85 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-14 | Borba George A Jr | Director | 25,097 | $500K | 19.92 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-12 | Borba George A Jr | Director | 50,242 | $1000K | 19.9 | Opportunistic (traded every year 2023–2025, no repeating month) |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-28 | Stephens & Co. | Target raised | Equal-Weight | $23 → $25 |
| 2026-07-27 | Piper Sandler | Target raised | Overweight | $27 → $28 |
| 2026-07-25 | DA Davidson | Target raised | Neutral | $22.5 → $25 |
| 2026-07-01 | Raymond James | Upgrade | Market Perform → Outperform | $25 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +26.9% | +39.2% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +26.9% | +6.8% |
| Volatility (annualized) | 22.9% | 32.4% |
| Max drawdown | -13.3% (Feb 2026→Mar 2026) | -60.4% (Nov 2022→May 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.88 -1.90% · FITB (Fifth Third Bancorp) USD 52.61 -1.16% · DB (Deutsche Bank AG) USD 30.93 -1.75% · TFC (Truist Financial Corporation) USD 47.91 -1.05% · NWG (NatWest Group plc) USD 16.64 -2.09% · NU (Nu Holdings Ltd.) USD 14.65 -0.58%

## More
Full page: https://nexqual.com/CVBF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CVBF's own 10-K filed 2026-02-27 (https://www.sec.gov/Archives/edgar/data/354647/000119312526083221/cvbf-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Federal Deposit Insurance | "The FDIC insures our customer deposits through the DIF up to prescribed limits for each depositor." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Deposit Account | $5.3M | — | +7.6% |
| Fiduciary & Trust | $4.2M | — | +12.6% |
| Credit Card | $624,000 | — | -3.6% |
| Total revenue | — | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.48 | $0.46 | +4.1% | $196.2M | 6 |
| Next quarter (ends 2027-03-31) | $0.47 | $0.47 | +1.9% | $195.5M | 5 |
| Current fiscal year (ends 2026-12-31) | $1.74 | $1.70 | +2.3% | $703.8M | 6 |
| Next fiscal year (ends 2027-12-31) | $2.00 | $1.94 | +3.0% | $806.2M | 6 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-03-19 (includes earnings 2027-01-20): ±16.6%; last 8 reports averaged ±2.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 34.8% | ±16.4% |
| 2027-03-19 | 147 | 30.4% | ±16.6% |